How does significance level of a statistical test relate to our decision about whether an independent...

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Statistics

How does significance level of a statistical test relate to ourdecision about whether an independent variable had an effect? Howdoes our choice of significance level impact the likelihood ofmaking a Type I and a Type II error? Be sure to thoroughlydistinguish between the two types of errors.

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Suppose we have a problem where we have to test if anindependent variable has any significant effect or notWe construct the nullH0 and alternative H1 hypothesis asH0 The variable has an effect vs H1 The variable has noeffectBoth are considered as alpha 005 levelsayNow See Answer

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How does significance level of a statistical test relate to our decision about whether an independent...

90.2K

Verified Solution

Question

Statistics

How does significance level of a statistical test relate to ourdecision about whether an independent variable had an effect? Howdoes our choice of significance level impact the likelihood ofmaking a Type I and a Type II error? Be sure to thoroughlydistinguish between the two types of errors.

Answer & Explanation Solved by verified expert

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