The p-value is a fundamental concept in statistics, particularly in hypothesis testing. It quantifies the probability of obtaining results at least as extreme as those observed, assuming that the null hypothesis is true. A low p-value indicates strong evidence against the null hypothesis, suggesting that the observed data is unlikely to have occurred by random chance alone. Typically, a p-value threshold of 0.05 is used to determine statistical significance, meaning there is less than a 5% probability that the observed results are due to chance. Understanding p-values is crucial for interpreting the results of statistical analyses in various fields, including data science and research.