<prompt> P-value is the probability of -Not rejecting a null hypothesis when trueRejecting a null hypothesis when trueNot rejecting a null hypothesis when falseRejecting a null hypothesis when false  <response>: P-value: Is the Probability of Type I error Null hypothesis is true but rejected Significance a level: is the maximum tolerable probability of Type I error P- value is calculated on basis of data while Alpha is fixed in advance: by the choice of level of significance employed in the test P value calculated can be less than, equal to or greater than alpha a Keep Type I error to be minimum P a: Then results are declared statistically significant. 