The P-Value Conundrum Navigating the Nuances of Statistical Significance

Abstract

This study seeks to fundamentally question the relevance of p-values in contemporary science,accentuating the current contention as well as potential misinterpretation, which is almost synonymous with their usage. The study takes the approach of a “review of literature,” using a variety of academic sourcesto provide a comprehensive overview of

the P-Value problem. It delves into history, foundational statistical concepts, and controversies that are stillcausing hot debate across a multitude of disciplines in relation to p-values.

The analysis demonstrates that the p-values are more complex than we would like to be as a single statistic and lead closely to incorrect conclusions, including the dangers of straying from the use of arbitrarysignificance thresholds. It also covers different statistical approaches, and a growing interest in effect sizes,confidence intervals, and the need for contextual interpretation.

The implications of this study are profound for the scientific community, policymakers, and researchers. Such evidence highlights the importance of a deeper understanding of P-values and urges a more rigorous approach to statistical analysis to provide valid and reliable evidence from scientific research. We provide an overview of the upcoming states of the P-value debate through most of the current literature, giving proper context to the conversation on the role of statistical significance.