What does P-value signify about the statistical data?

1.	What does P-value signify about the statistical data?
Answer» P-value in the parlance of statistics can be defined as “Lowest level of probability at which the NULL hypothesis can be rejected”. For key statistics like t-stat, P<=0.05 indicates that the underlying null hypothesis can be rejected in FAVOUR of alternative hypothesis at 5% level of SIGNIFICANCE and for p>0.05 indicates that we have less than absolute EVIDENCE that the null hypothesis is not true.

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