ELI5: Explain Like I'm 5

P-value

A p-value is a way to measure how likely it is that something happened by chance. It's like a percentage. Imagine you flipped a coin 10 times and it came up heads 8 times. That's more heads than tails, and it seems like it's not a fair coin. The p-value would tell you what the chance is that it could have happened by chance. A low p-value would mean it's very unlikely it was just chance, and a higher p-value would mean it was more likely it happened by chance.