P-Value Calculator

Calculation of interest rates can be a challenging endeavor. But thanks to our sophisticated interest rate calculator, that’s no longer the case. Simply fill-in the required fields and seamlessly navigate the intricate world of interest rates with clarity and precision.

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Result

Your Result in Python

chi square

from scipy.stats import chi2

# Calculate the p-value Test

chi2_statistic =

# Specify the appropriate degrees of freedom

degrees_of_freedom =

# Calculate the right-tail probability

right_tail_prob =

# Calculate the left-tail probability

left_tail_prob =

# Calculate the two-tailed p-value by summing the probabilities

p_value =

# Print the p-value

print (paste ( p-value:' , p_value))

from scipy.stats import norm

# Calculate the p-value

z_score =

p_value =

# Print the p-value

print ( p-value:' ,p_value)

from scipy.stats import norm

# Calculate the p-value

t_statistic =

degrees_of_freedom =

p_value =

# Print the p-value

print ( p-value:' ,p_value)

Your Result in R

# Set the chi-square statistic

chi2_statistic <-

degrees_of_freedom <-

# Calculate the right-tail probability

right_tail_prob <-

# Calculate the left-tail probability

left_tail_prob <-

# Calculate the two-tailed p-value by summing the probabilities

p_value <-

# Print the p-value

print (paste ( p-value:' , p_value))

# Calculate the p-value for a

z_score <-

p_value <-

# Print the p-value

cat (' p-value:' , p_value, "\n")

# Calculate the p-value for a

t_statistic <-

degrees_of_freedom <-

p_value <-

# Print the p-value

cat (' p-value:' , p_value, "\n")

What Is the P Value? — Definition

IThe P-Value (also known as Probability Value) is a statistical tool that quantifies the importance of test findings in hypothesis testing. This concept informs statisticians or researchers of the likelihood that the observed outcomes would occur if the null hypothesis were correct. It allows researchers and statisticians to evaluate the strength of the evidence against the null hypothesis. Therefore, calculating P-Value is essential.

Formulae for Calculating P-Values

The formula used to determine P value varies according to the type of statistical test being performed. Therefore, in order to completely understand the concept of P-Value, it is essential to comprehend the associated terminologies.

Z Score

Z Score

The Z-score calculates how much a data point deviates from a normal distribution’s mean by using the number of standard deviations. It is calculated according to the following formula:

Z=(X- μ)/σ

In the above expression, X represents the observed value or raw score, μ is the mean, and σ refers to the standard deviation.

T Score

T Score

If the population standard deviation is unknown or the sample size is small (under 30), T-score is used instead of the Z-score. Its computation is conducted through the following equation:

T =(Xˉ-μ)/s√n

In the above formula, X is the sample mean, μ represents the population mean, s refers to the sample standard deviation, and n is the sample size.

F Statistic

F Statistic

The F statistic is useful when comparing the variance of two or more samples. Therefore, it is used in ANOVA (ANalysis Of VAriance) tests. Its value is computed by dividing the variance of two samples with each other.

Correlation Coefficient (r)

Correlation Coefficient (r)

When measuring the degree of the linear link between two variables and its direction, correlation coefficient (r) comes in handy. Its value has a range of -1 to 1, with -1 denoting perfect negative correlation, 0 representing no correlation, and 1 signifying perfect positive correlation.

Chi-Square

Chi-Square

In order to determine whether a significant correlation between two category variables exists or not, P value is calculated from Chi-Square. This test proves valuable when computing the discrepancy between the actual and predicted frequencies in one or more categories. Its calculation involves summing an expression’s output in order to compare the values that are observed (O) and predicted (E). Here is a visual representation of its formula:

X2= (O-E)2/E

Examples Showcasing the Computation of P-Value

To fully grasp the concept of P-Value and its calculation, let’s consider two examples here.

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Examples 1

If the P-Value is 0.0219 and the level of significance is 5%, check whether we can reject the null hypothesis or not.

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Solution

To solve this, we’ll consider the description and hypothesis interpretation of P-values’ table. The table states that if P-Value is lower than the 0.05 level of significance, the null hypothesis can be rejected.

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Examples 2

Suppose that the P-Value is 0.3105 and the level of significance is 5%. Determine whether can we reject the null hypothesis in such a situation?.

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Solution

The P-Value in this example is greater than the 0.05 level of significance. Therefore, according to the P-Value table, we can’t reject the null hypothesis here.

Introducing Our P-Value Calculator — Step-by-Step Guide

P-Value discussions often involve the use of numerous related terminologies. Therefore, its concept seems complicated. To ease out this situation, we have developed an automated and reliable P-Value calculator. Our tool helps users find P values in an intuitive manner. Here is a general overview of using our P Value calculator: 

Begin by picking the right statistical test based on your study design, such as Z-Score, T-Score, F Statistic, Correlation Coefficient (r), or Chi-Square.

Enter the parameters required for the chosen test, such as sample means, standard deviations, sample sizes, or correlation coefficients.

Tap on the ‘Compute P’ button to instantly begin calculation of the P-Value according to the provided data.

Our P-Value calculator will instantly complete the computation. Review the results the context of your hypothesis test to make better informed conclusions.

Hint: A high P-value denotes poor evidence, whereas a low P-value (usually < 0.05) shows significant evidence against the null hypothesis.

How Our P-Value Calculator Makes It Easy to
Compute Probability Values? — Key Highlights

Our P Value calculator simplifies the computation of probability values with the help of its salient features. The following list highlights a few of those key traits:

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Precise Computations

Support for Multiple Tests

Instantaneous Results Generation

24/7 Accessibility

Intuitive UI

Our tool has an easy-to-use UI that significantly improves the user experience. All users have to do is input the information into the designated fields, and this online utility will provide instantaneous results along with clear visualizations of calculations.

The backend of our ideal weight calculator has been designed with the help of various historic weight computation formulae. Therefore, whatever calculations the tool provides, the results will be completely accurate.

This healthy weight calculator is an online software program. Therefore, you don’t need to install a certain operating system or buy a specific device to reap the benefits of this tool. You just need a cutting-edge web browser.

Like all the accurate ideal weight calculators, this web utility also performs calculations by considering the age, gender, and height. Therefore, this online tool doesn’t make predictions. It provides calculated results.

Like all the accurate ideal weight calculators, this web utility also performs calculations by considering the age, gender, and height. Therefore, this online tool doesn’t make predictions. It provides calculated results.

Frequently Asked Question

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Yes! Our interest rate calculator works on sophisticated algorithms to guarantee accurate answers for various scenarios.

Absolutely! Our P-Value Calculator is a versatile solution. Therefore, it can be useful for performing hypothesis testing in various fields, like biology, economics, psychology, etc.

The choice of statistical test depends on the kind of data, study design, and research topic.