Filed In:
Definitions of Economics Terms Beginning with the Letter P
Definitions of economics terms beginning with the letter P, such as prime rate and proportional tax.
Definition of Producer Surplus
Producer Surplus Defined - A Dictionary Definition of Producer Surplus
P-value - Dictionary definition of P-value
P-value is associated with a test statistic. It is "the probability, if the test statistic really were distributed as it would be under the null hypothesis, of observing a test statistic [as extreme as, or more extreme than] the one actually observed."