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From Medscape
JAMA Viewpoint: The Proposal to Lower P Value Thresholds to .005
Some takeaways:
What are your thoughts?
JAMA Viewpoint: The Proposal to Lower P Value Thresholds to .005
Some takeaways:
“The problem with P values is that if you take their exact definition, what they convey is not something that any clinician would ever be interested in, with very rare exceptions," according to John PA Ioannidis, MD, DSc, Stanford University, California.
The new P = .005 standard would be a temporary fix until the field more consistently adopts and ingrains a more clinically relevant statistical test, or several depending on the type of analysis, he proposes.
That P values are currently "misinterpreted, overtrusted, and misused" means that a research finding within the .05 standard "is wrongly equated with a finding or an outcome (eg, an association or a treatment effect) being true, valid, and worth acting on," Ioannidis writes.
A better metric, one that would serve the needs of clinicians, would reflect whether there is a treatment effect, one large enough to be clinically meaningful. The P value, Ioannidis said, "is very remote from that. It's so remote from it that people are just misled."
More useful are hazard ratios (or relative risks or odds ratios) with confidence intervals that convey effect sizes that can show whether a treatment outcome may be clinically appealing, he said. Those metrics don't simply dichotomize results in terms of significance vs nonsignificance.
What are your thoughts?