(noun) a liquid or semi-liquid edible dressing or condiment served as an accompaniment to or an ingredient in a meat, dessert, or other food: pizza sauce, steak sauce, cranberry sauce, chocolate sauce, etc., or (verb) to add said sauce to something.
All hypothesis tests ultimately use a p-value to weigh the strength of the evidence (what the data are telling you about the population). The p-value is a number between 0 and 1 and interpreted in the following way: A small p-value (typically â¤ 0.05) indicates strong evidence against the null hypothesis, so you reject the null hypothesis.
How to Correctly Interpret P Values. The P value is used all over statistics, from t-tests to regression analysis. Everyone knows that you use P values to determine statistical significance in a hypothesis test. In fact, P values often determine what studies get published and what projects get funding. Despite being so important, the P value is a slippery concept that people often interpret incorrectly.