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?
The textbook talks about Type I and Type II errors. Please define the two types and explain why they are significant to understand.
· WK4 DQ#1 Additional Question #1
Why does the significance level differ among indus