Significant or Not : What Does the "Magic" P-Value Tell Us?

The use of the p-value in determination of statistical significance—and by extension in decision making—is widely taught and frequently used. It is not, however, without limitations, and its use as a primary marker of a worthwhile conclusion has recently come under increased scrutiny. This paper attempts to explain some lesser-known properties of the p-value, including its distribution under the null and alternative hypotheses, and to clearly present its limitations and some straightforward alternatives