Help with interpretation of p value

[Basak97]

Can someone please thoroughly help interpret or answer this question ; what does p<or equal to 0.05 mean?
And if the p value is equal to 0.05 is there statistical significance
Thanks

[sam0044]

If the p value is <0.05 (or if there is a value below 0.05 given such as 0.03), then the results are statistically significant, and you would say that "there is a less than 5% chance that the results between group A and group B are due to chance, therefore the results are statistically significant". Or if you have a value given, you would say that" there is 3% chance that the results between group A and group B are due to chance, therefore the results are statstically significant" 

[Damoz.G]

In Psychology, the Results obtained should obviously be mainly caused by the manipulation of the IV. Therefore, usually the p value is set at "p<0.05". You won't have to calculate this yourself. The 0.05 can be converted into 5%.

So in most experiments, when it is set at this, it means that there was a 5% of the change in the DV can be caused by other factors other than the IV. However, if it is 0.06 which is 6%, then the results are not statistically significant, because there was a 6% of the change in the DV caused by other factors other than the IV.

Hope this helps!

[alondouek]

To directly answer OPs question:

A p-value only indicates significance when it is LESS than the level of significance (often 0.05). Statistical convention states that any p-value equal to or greater than 0.05 (for 95% confidence level) is not statistically significant and you fail to reject the null hypothesis.

In short:

< 0.05 , statistically significant relationship between two variables, reject the null.

> or = 0.05 , no significant relationship between two variables, do not reject the null.

[Basak97]

If the p value is >0.05 and therefore there is no statistical significance could you simply conclude that the hypothesis was not supported?

[Damoz.G]

If the p value is >0.05 and therefore there is no statistical significance could you simply conclude that the hypothesis was not supported?

Yes, but you would need to explain it in a bit more detail to get the full marks.