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var_skeptic2026-05-21
cfaLevel IQuantitative MethodsHypothesis Testing

Does a bigger p-value mean the result is more significant?

I keep seeing p-values in hypothesis testing questions and my instinct is to read a bigger p-value as "more significant." That seems to produce the wrong answer. What is the clean way to think about it?

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AcadiFi TeamVerified Expert
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No. A bigger p-value means weaker evidence against the null hypothesis.

The p-value asks how unusual the sample result would be if the null hypothesis were true. If the p-value is small, the result is hard to explain under the null, so rejecting the null becomes easier. If the p-value is large, the result is not unusual enough to reject the null at common significance levels.

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For example, if alpha = 0.05 and the p-value is 0.032, reject the null. If the p-value is 0.32, fail to reject. The second result is not "more significant"; it is much less persuasive against the null.

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