A p-value measures the strength of evidence against the null hypothesis.
Definition:
\[p = P(\text{observing data this extreme} \mid H_0 \text{ is true})\]
Interpretation:
- Small p-value (< 0.05): Strong evidence against \(H_0\)
- Large p-value (≥ 0.05): Insufficient evidence against \(H_0\)
Key point: P-value is NOT the probability that \(H_0\) is true!