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In statistics we tend use the 'hat' notation to imply a statistic. We designate P to represent the proportion in the population. Because P is unknown and unknowable we use Phat to designate the proportion in the sample. Suppose 30 out of 100 people in my sample support Trump. P = unknown and unknowable.
The P-Value âFormula,â Testing Your Hypothesis. The p-value, while it is one of the most widely-used and important concepts in statistics, is actually widely misunderstood. Today weâll talk about what it is, and how to obtain it.