How do you explain the meaning of p-value to a non-statistical audience?
Imagine you're trying to determine if a coin is fair, meaning it has an equal chance of landing heads or tails. You flip it 100 times and it comes up heads 60 times. Does this mean the coin is biased? To answer such questions, data scientists use a tool called the p-value. Think of the p-value as a measure of surprise. If the coin were fair, you wouldn't expect a result so far from 50 heads and 50 tails. A p-value tells you how surprising your results are, assuming the coin is fair. A low p-value means your results are surprising and might indicate that the coin isn't fair after all.