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‫Instructor: Hey guys, welcome back.

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‫In this lecture,

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‫you will gain a high level overview of P value.

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‫Let's begin.

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‫P value is a probability value

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‫that is an output of any statistical analysis

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‫performed on Minitab.

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‫In this yellow belt program, in the next few sessions

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‫you will learn to create a run chart.

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‫A run chart helps us identify

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‫if the data is stable or unstable.

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‫The output of this run chart is a graph and a P value.

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‫This P value is critical to seek the required inferences

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‫from this chart.

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‫P value is a common output of any statistical analysis.

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‫This P value always ranges between zero and one.

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‫What will you do with this value?

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‫You're going to compare it with 0.05.

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‫for the run chart, if the P value is greater than 0.05,

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‫you can infer that the data is stable,

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‫and if it is less than 0.05

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‫the inference is that the data is not stable.

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‫You will learn more on this

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‫in the lecture on data stability.

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‫A yellow belt is rarely required

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‫to do any complex statistical analysis.

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‫However, a basic know how of P value

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‫at this level is good enough.

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‫Hence, I have added this as a separate chapter

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‫and kept this discussion, at this high level.

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‫You will gain an in-depth understanding

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‫of these statistical concepts such as P value

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‫in advanced six sigma programs

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‫such as green belt and black belt.

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‫With that, let's conclude this discussion now.

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‫Thank you for attending this lecture.

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‫See you in the next one.