Statistics
P-value
The P value, or calculated probability, is a statistical concept that is used in hypothesis testing to help determine statistical significance.
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Data glossaryStatistical Significance
Statistical Significance
ScienceStatistics
Statistical significance is a way of quantifying whether results in data are not likely due to chance, usually using a p-value threshold.
In practice
For example, a pharmaceutical company in diabetes medication, reported that there was a statistically significant reduction in type 1 diabetes when it tested its new insulin. The test consisted of 26 weeks of randomized therapy among diabetes patients, and the data gave a p-value that was less than 5%. This signifies to investors and regulatory agencies that the data show a statistically significant reduction in type 1 diabetes.
Related terms
Data science
Anonymization
Data anonymization is a type of process to remove sensitive information to protect the identity of individuals in datasets.
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Technology
Blockchain
A blockchain is a growing list of records, called blocks, that are linked using cryptography to create a secure and tamper-evident ledger.
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