Explain and interpret p-values correctly

Company: PayPal

Role: Data Scientist

Category: Statistics & Math

Difficulty: easy

Interview Round: Technical Screen

Quick Answer: This question evaluates statistical inference and experimental-design competencies, focusing on a precise definition and correct interpretation of p-values along with how sample size, effect size, variance, multiple testing, sequential peeking, and imbalanced or delayed labels affect experimental conclusions in a fraud-detection context.