ASA statement of use of p-values 2016-03-17 16:55:24 Thought this might be of interest here...The American Statistical Association has for the first time in its 177-year history released a set of recommendation regarding the p-value metric, in response to the perception that it is widely misusedHere's a quote from the ASA press release:QuoteThe statementâ€™s six principles, many of which address misconceptions and misuse of the pvalue, are the following:1. P-values can indicate how incompatible the data are with a specified statistical model.2. P-values do not measure the probability that the studied hypothesis is true, or the probability that the data were produced by random chance alone.3. Scientific conclusions and business or policy decisions should not be based only on whether a p-value passes a specific threshold.4. Proper inference requires full reporting and transparency.5. A p-value, or statistical significance, does not measure the size of an effect or the importance of a result.6. By itself, a p-value does not provide a good measure of evidence regarding a model or hypothesis.The statement has short paragraphs elaborating on each principle. The full statement is titled The ASA's statement on p-values: context, process, and purpose