I attended the second class of MTH522. During this class, the topic of discussion was the value of “p” in probability and Fair coin
What is the p-value?
The p-value quantifies the probability of observing a test statistic as extreme as the one computed from the sample data, assuming that the null hypothesis is true. A small p-value (typically less than 0.05) indicates strong evidence against the null hypothesis, while a large p-value suggests weak evidence.
Fair coin:
When flipped , the coin has an equal probability of landing on either the heads or tails side. Accordingly , both the likelihood of receiving heads and tails is equally likely to be 0.5.
Null Hypothesis:
For the purpose of statistical hypothesis testing, the null hypothesis is a claim that assumes there is no significant difference.