Pratap Singh Basnet Blog

Hi there, I am Pratap Singh Basnet, interested in Economics and Data Science. Currently, I am doing my PhD in Economics from Carleton University, Ottawa.  I believe that sharing knowledge to each other is best way of learning. 

p value is sometime confusing and leading to a misinterpretation. It is the probability of  obtaining equally likely of extreme values than the what is observed now, if null hypothesis is true. For instance, H0: Coin is fair H1: Coin is not fair(there is trick) Toss   observation          p value First           H                   0.5 Second       H                   0.25 Third          H                   0.125 fourth         H                   0.06 fifth            H                   0.03 When the succeeding result goes to extreme, assuming H0 is true then p value keep on declining. It means that lowe...