- The Core Question: If the Null Hypothesis \(H_0\) is true, how likely is it to see data this extreme?
- The Definition: The P-value is a probability, ranging from 0 to 1, calculated from a statistical test.
- The Goal: To provide a standardized metric for “surprisal” in data.
- Interpretation: A small P-value suggests that the observed data is inconsistent with the null hypothesis.