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What is P value is 0.001 then: and explain in detail?
The 'P' value is the estimated probability of rejecting the null hypothesis of a study question when that hypothesis is true. If the computed P-value is less than 0.05 then we can reject null hypothesis. If the computed P-value is > 0.05, it means that the estimates of association are not significant and the null hypothesis is not rejected. P value of < 0.001 simply means there is less than 1 in a 1000 chance of the stated result being incorrect and the results are correct in remaining 999 or 99.9% of population.