p value
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 lower the p value , it is likely the not accepting H0. If the p value is less than the choosen significance level then , H0 will be rejected.
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 lower the p value , it is likely the not accepting H0. If the p value is less than the choosen significance level then , H0 will be rejected.
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