In statistics, the p-value is the probability of obtaining results at least as extreme as the observed results of a statistical hypothesis test, assuming that the null hypothesis is correct. The p-value serves as an alternative to rejection points to provide the smallest level of significance at which the null hypothesis would be rejected. A smaller p-value means that there is stronger evidence in favor of the alternative hypothesis.
P-value is often used to promote credibility for studies or reports by government agencies. For example, the United States Census Bureau stipulates any analysis with a p-value greater than 0.10 must be accompanied by a statement that the difference is not statistically different from zero The Census Bureau also has standards in place stipulating what p-values are acceptable for various publications.
