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p-value

— The probability (ranging from 0 to 1) that the results observed in a study could have occurred by the play of chance

Full explanation:

For treatment effect estimates, the p-value is the probability (ranging from 0 to 1) that the results observed in a study could have occurred by the play of chance, if the treatment to which participants were allocated actually had no impact on the outcome.

Because p-values are often misinterpreted, and are less informative than confidence intervals, we recommend using confidence intervals rather than p-values to assess the extent of uncertainty due to the play of chance around effect estimates.

See also:

confidence interval  ·  precision

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