The p-value is the level of marginal significance within a statistical hypothesis test representing the probability of the occurrence of a given event.
The p-value is used as an alternative to rejection points to provide the smallest level of significance at which the null hypothesis would be rejected.
A smaller p-value means that there is stronger evidence in favour of the alternative hypothesis.
Read more: P-Value Definition | Investopedia http://www.investopedia.com/terms/p/p-value.asp#ixzz4VXPCIrKw
About Me
- Cassini
- I have had a life-long interest in sports and after studying Pure Mathematics with Statistics at secondary school, have been fascinated by odds and probability. The first system I came up with was a simple one - back the favourite and double up after a loss until a winner. Simple enough in theory, and I told my Dad about it. Not being a betting man himself, he ran it by some of his colleagues, and came home to tell me that it wouldn’t work because a long losing run would mean that the bank would be empty. Then there was always the possibility that the winner would be returned at odds-on, meaning that the total returns would not match the outlay. Not what a ten year old wants to hear! Only slightly daunted, I then went on a search for the Holy Grail, the secret to riches that I knew was out there somewhere. Finally in 2004 I stumbled across an article about Betting Exchanges and four years later I was able to make a steady profit.
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