Ask Analytics: Understanding p-value

A tale about p-value

You keep seeing the term 'p-value' every now and then, but don't understand what it really means? Don't worry, you're not alone. In fact, most people who use p-value don't understand the concept behind it.

Your search for a simple explanation for p-value ends here...In this article, we explain to you the concept of p-value and its use in a very simplistic and straight-forward manner.

Let’s understand p-value with an example

Dr. AlwaysFightingWithWife realized that like him, most married couples fight a lot over petty issues.

He found that on an average, every couple spends 32 hours a week arguing/fighting with each other.

Tired of fighting with his wife(& always losing!), he realized that the only way that he could win was if somehow their fights reduce.

From that day itself, he started working on an idea to develop a potion that would reduce fights between couples.

Until one day, when finally, he hit upon the magical

formula!

He decided to test the results by giving a dose of the medicine to

64 couples (Even though many more husbands were willing to

When the results came out >>>

Should the doctor apply for a patent then, and start dreaming of becoming Richie Rich??

But wait, there’s one thing that we totally forgot to consider amidst all the excitement! What if the couples he selected to test the potion on were just lovey-dovey couples to start with? What if they fought for an average of only 30 hours a week even before they took the potion?