QNT351 Week4 DQ- Additional questions - 9484

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  • WK4 DQ#1 Additional Question #1

 

Why does the significance level differ among industries? Will the null hypothesis be more likely to be rejected at α = 0.01 than α = 0.10? As the significance level increases to α = 0.10 from α = 0.01, which type error is more likely to occur? What can be done to reduce the likelihood of incurring this error?

 

 

  • WK4 DQ#1 Additional Question #2

 

The textbook talks about Type I and Type II errors. Please define the two types and explain why they are significant to understand.

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·         WK4 DQ#1 Additional Question #1

 

Why does the significance level differ among indus