What P-Value Means Calculating the p-value assumes the null alternative hypothesis is true. Please answer question 1 to reveal this question. The p-value is a probability associated with the variation of the parameters data hypotheses if the null hypothesis is true. Please answer question 2 to reveal this question. The p-value is a probability associated with obtaining/observing a value exactly at least at most as extreme as the value you got if the null hypothesis were true. Continue