An interesting read on the established use of the P-value. A reminder to be ever skeptical.
“Now, the powers-that-be have decided that a p-value less than 0.05 is “statistically significant.” That means your study is positive. And most of us are taught that the p-value is the chance that the result you got could have occurred by chance. So a p-value of 0.02 means that the results you see would be the result of chance only 2% of the time…Let’s say that there are 100,000 hypotheses out there — floating in the ether. Some of the hypotheses are true, some are false (this is how science works, right?). It turns out that it’s the proportion of true hypotheses that dictates how much of the medical literature is nonsense, not the p-value. Let me prove it.”
Full article here: http://tinyurl.com/ohzze5h