title: Thep-Value You Can't Buy.
abstract: There is growing frustration with the concept of thep-value. Besides having an ambiguous interpretation, thep-value can be made as small as desired by increasing the sample size,n. Thep-value is outdated and does not make sense with big data: Everything becomes statistically significant. The root of the problem with thep-value is in the mean comparison. We argue that statistical uncertainty should be measured on the individual, not the group, level. Consequently, standard deviation (SD), not standard error (SE), error bars should be used to graphically present the data on two groups. We introduce a new measure based on the discrimination of individuals/objects from two groups, and call it theD-value. TheD-value can be viewed as then-of-1p-value because it is computed in the same way aspwhile lettingnequal 1. We show how theD-value is related to discrimination probability and the area above the receiver operating characteristic (ROC) curve. TheD-value has a clear interpretation as the proportion of patients who get worse after the treatment, and as such facilitates to weigh up the likelihood of events under different scenarios. [Received January 2015. Revised June 2015.].
authors.forename: Eugene
authors.initials: E
authors.lastname: Demidenko
keywords: Discrimination error; Effect size; ROC curve; Significance testing.