If I have a p-value of 0.01 on a statistical test, does that mean the probability of my hypothesis being wrong is 1%?
If not, why not?
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If null hypothesis is true, the probability of getting the data in the sample or more extreme data is the p-value. If p-value is small enough, you will not believe that null hypothesis is true. Pay attention: It is your null hypothesis. – user158565 Dec 12 '18 at 19:38
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That's not correct. It means that given your null hypothesis is true, the probability of getting a result as or more extreme as the one you got is only about 1%. Since this value is low it would make us skeptical that the null hypothesis is actually true. – RAND Dec 12 '18 at 19:47