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What is All are true about P-value except ? and explain in detail?
Ans. is 'b' i.e. Is equal to 1-0 P value is equal to the probability of commiting type I error, i.e. observing a difference when there is no difference in real. When P value is less than signficance level (a) , the results are statistically significant. Significance level (c() is fixed in advance. For example, significance level of study is study is fixed at 0.05 and the p value of test (type I error) is 0.027 (< 0.05), then the result is considered as statistically significant. That means, the maximum tolerable limit of type I error (significance level) of a study is fixed in advance and the usual value is 0.05. That means . 0.05 of type I error is acceptable and if a study has 0.05 type I error, the result is statistically significant.