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Abstract:
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Researchers commonly use p-values to answer the question: How strongly does the evidence favor the alternative hypothesis relative to the null hypothesis? P-values themselves do not directly answer this question and are often misinterpreted in ways that lead to overstating the evidence against the null hypothesis. Even in the post p < 0.05 era, however, it is quite possible that p-values will continue to be widely reported and used to assess the strength of evidence. If so, the potential for misinterpretation will persist. In this paper, we recommend three practices that would help researchers more accurately interpret p-values. Each of the three recommended practices involves interpreting p-values in light of the largest odds in favor of the alternative hypothesis relative to the null hypothesis that is consistent with the observed data.
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