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STAT 2000 (1)
Lecture

Type I & Type II Consequences.pdf

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Department
Statistics
Course
STAT 2000
Professor
Zenaida Mateo
Semester
Summer

Description
1 An art collector is trying to decide whether to pay 2000 to buy insurance for a 20000 paintingShe is essentially testing the hypothesesH The painting will not be stolen vs H The 0apainting will be stolenExplain what it would mean in this case to make a Type I error and a Type II errorExplain the potential consequences of each wrong decision Answer We make a Type I error when we reject H 0when H is trueIn this case we would make a Type I 0error if we concl
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