The p-value is a statistical measure that represents the probability of obtaining a result as extreme or more extreme than the observed result, assuming that the null hypothesis is true. In other words, it is the likelihood of getting a result by chance alone. A p-value of less than 0.05 (5%) is generally considered to be statistically significant, indicating that the observed result is unlikely to have occurred by chance and that the null hypothesis should be rejected. A p-value greater than 0.05 indicates that the observed result is likely to have occurred by chance, and the null hypothesis cannot be rejected.