Demystify Statistical Significance--Time to Move on From the P Value to Bayesian Analysis

Abstract

Compared to the long histories of mathematics, physics, chemistry, and biology, statistics is a young science. Rooted in mathematics, statistics is a science of quantitative reasoning. It provides a formal framework for assessing the strength of evidence in the midst of uncertainty. More specifically, statistics allows one to quantify the probability of an event to make proper inference. It provides tools that we can use to sift through mountains of information to identify the signal and filter out the noise. Recently, the United Nations declared October 20, 2010, as “World Statistics Day.” The declaration stated “On 20 October 2010, the World will celebrate the first World Statistics Day, to raise awareness of the many achievements of official statistics premised on the core values of service, integrity and professionalism” (1).