Statistics - explanations and formulas

Predictive Power

Predictive power is the power of a scientific theory to generate testable predictions. It allows a prospective test of theoretical understanding.

Statistical significance is currently defined as a P-value of 0.05 or less, however, this definition is inadequate because of the effect of study power. A better definition of statistical significance is based upon the P-value’s positive predictive value. To achieve statistical significance using this definition, the power divided by the sum of power plus the P-value must be 95% or greater.