The p-value is a crucial concept in statistical hypothesis testing. It quantifies the strength of evidence against the null hypothesis ($H_0$).
The p-value is defined as the probability of obtaining test results at least as extreme as the results actually observed, assuming that the null hypothesis is correct. Mathematically, if $X$ represents the observed data and $H_0$ is the null hypothesis, the p-value is calculated as:
P-value $= P(\text{Test Statistic} \ge \text{Observed Value} | H_0 \text{ is true}) \quad \text{or} \quad P(\text{Test Statistic} \le \text{Observed Value} | H_0 \text{ is true})$
The specific calculation depends on whether it's a one-tailed or two-tailed test.
| LIST-I | LIST-II | |
| A. One-Tailed Test | I. | Null hypothesis is rejected if the sample value is significantly higher or lower than the hypothesized value of the population parameter |
| B. Paired difference Test | II. | A hypothesis test of the difference between the sample means of two independent samples |
| C. Two-Tailed Test | III. | A sample value significantly above the hypothesized population value will lead to rejection of the null hypothesis |
| D. Upper-Tailed Test | IV. | Concerned only with whether the observed value deviates from the hypothesized value in one direction |