Yesterday brought the issuance of dozens of papers about the importance – or not – of p-values. That’s important news for trial lawyers, corporate officers, corporate directors, and risk managers. Persons in those roles (and others) are in for surprises if not aware of and ready for debates about and likely reduction in the litigation-related power of p values. Indeed, the many papers issued yesterday on use of statistics deserve attention when thinking about opportunities and risks in litigation.
For yesterday’s editorial from the American Statistical Association, go here to read, and more: “Moving to a World Beyond “p < 0.05.”
For the paper shown in the cartoon, go here to Nature.