t- test is performed to find evidence of a significant difference between

population means (2-sample t) or between the population mean and a

hypothesized value (1-sample t). 
The t-value measures the size of the difference relative to the variation in your s
ample data
.
T values of larger magnitudes (either negative or
positive) are less likely. The far left and right "tails" of
the distribution curve represent instances of obtaining
extreme values of t, far from 0. For example, the
shaded region represents the probability of obtaining a
t-value of 2.8 or greater. Imagine a magical dart that
could be thrown to land randomly anywhere under the
distribution curve. What's the chance it would land in
the shaded region? The calculated probability is
0.005712.....which rounds to 0.006...which is...the p-
value obtained in the t-test results! 
T values of larger magnitudes (either negative or positive) are less likely. The far
left and right "tails" of the distribution curve represent instances of obtaining
extreme values of t, far from 0. For example, the shaded region represents the
probability of obtaining a t-value of 2.8 or greater. Imagine a magical dart that
could be thrown to land randomly anywhere under the distribution curve. What's
the chance it would land in the shaded region? The calculated probability is
0.005712.....which rounds to 0.006...which is...the p-value obtained in the t-test
results! 
• The t-value is specific thing for a specific statistical test, that means little by itself. 
The p-value tells you the statistical significance of the difference; the t-value is an
intermediate step.

• Both are interlinked

• They are like Tweedledee and Tweedledum.

• T and P are inextricably linked. They go arm in arm, like Tweedledee and
Tweedledum.

• Two people or two groups resembling each other that they are practically
indistinguishable
1. p -value(probability value) is a quantitative measure to report the result of
statistical hypothesis testing.
2.it helps in measuring the probability of the observed result(or more extreme)
assuming the null hypothesis(H0) is true.
3. based on a significance level[usual values used for alpha = (0.05, 0.01, 0.001)]. (p
< alpha).

4.t-value is computed for a t-test. t-test is a statistical test to measure the difference
in means(averages) of one or two population distributions. If more than 2 variable is
present then one must use analysis of variance test(ANOVA). Every t-value has a p-
value associated with it to measure the statistical significance of the difference. t-test
could be of different types

1. sample t-test, 2. paired t-test, 3. t-test in regression output

Notes about Type I error:
•is the incorrect rejection of the null hypothesis
•maximum probability is set in advance as alpha
•is not affected by sample size as it is set in advance
•increases with the number of tests or end points (i.e. do 20 rejections
of H0 and 1 is likely to be wrongly significant for alpha = 0.05)
 
Notes about Type II error:
•is the incorrect acceptance of the null hypothesis
•probability is beta
•beta depends upon sample size and alpha
•can't be estimated except as a function of the true population effect
•beta gets smaller as the sample size gets larger
•beta gets smaller as the number of tests or end points increases