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P value (SP = significance probability)
The probability of the observed data or data showing a more extreme departure from the null hypothesis when the null hypothesis is true. The p-level represents the probability of error that is involved in accepting an observed result as valid. For example, the P-level of .05 (i.e.,1/20) indicates that there is a 5% probability that the relation between the variables found in our sample is a "fluke." In other words, assuming that there was no relation between those variables whatsoever (the null hypothesis is correct), and we were repeating experiments like ours one after another, we could expect that approximately in every 20 replications of the experiment, there would be one in which the relation between the variables in question would be equal to or more extreme than what has been found. (Interpreting Statistical P Values.)
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