This is from Wiki:
The significance level is usually denoted by the Greek symbol α (lowercase alpha). Popular levels of significance are 5% (0.05), 1% (0.01) and 0.1% (0.001). If a test of significance gives a p-value lower than the α-level, the null hypothesis is rejected. Such results are informally referred to as 'statistically significant'. For example, if someone argues that "there's only one chance in a thousand this could have happened by coincidence," a 0.001 level of statistical significance is being implied. The lower the significance level, the stronger the evidence required. Choosing level of significance is an arbitrary task, but for many applications, a level of 5% is chosen, for no better reason than that it is conventional.[3][4]
Does this strike any one else as dumb and very unscientific?
This is free to access:
http://www.plosmedicine.org/article/info:doi/10.1371/journal.pmed.0020124
Why Most Published Research Findings Are False
Summary
There is increasing concern that most current published research findings are false. The probability that a research claim is true may depend on study power and bias, the number of other studies on the same question, and, importantly, the ratio of true to no relationships among the relationships probed in each scientific field. In this framework, a research finding is less likely to be true when the studies conducted in a field are smaller; when effect sizes are smaller; when there is a greater number and lesser preselection of tested relationships; where there is greater flexibility in designs, definitions, outcomes, and analytical modes; when there is greater financial and other interest and prejudice; and when more teams are involved in a scientific field in chase of statistical significance. Simulations show that for most study designs and settings, it is more likely for a research claim to be false than true. Moreover, for many current scientific fields, claimed research findings may often be simply accurate measures of the prevailing bias. In this essay, I discuss the implications of these problems for the conduct and interpretation of research.
"Perchance you who pronounce my sentence are in greater fear than I who receive it." - Giordano Bruno to his judges on being sentenced to death without the shedding of blood.