Understanding P-Values

Understanding P-Values

Fixed population parameters

μ₀ = 100 | σ = 15

True sample mean (M):

Sample size (n):

Sampling distribution (Panels 1–2):

Z (known σ)

t (estimated σ̂)

Overlay both Z and t (Panel 2)

Tail(s) for p-value:

Lower tail

Upper tail

Both tails

Long-run simulations (Panel 3)

Number of simulations:

Significance level (α):