Asked by Erica Chase on May 09, 2024
Verified
The statistical risk that researchers are willing to accept when making the decision to fail to reject or reject the null hypothesis is called:
A) Type of error
B) Margin of Error
C) Level of Significance
D) Confidence Level
Level of Significance
A statistical threshold used to determine if a result can be considered statistically significant, often denoted by alpha (α).
Statistical Risk
Statistical risk quantifies the likelihood of a negative event occurring. It is often used in the context of financial markets, health studies, and other areas requiring risk assessment based on numerical data.
- Gain insight into the statistical groundwork of research, covering inference, levels of significance, and confidence spans.
Verified Answer
TM
Tamika MooreMay 13, 2024
Final Answer :
C
Explanation :
The Level of Significance, often denoted as alpha (α), is the threshold at which researchers decide whether to reject or fail to reject the null hypothesis. It represents the probability of making a Type I error, which is rejecting a true null hypothesis.
Learning Objectives
- Gain insight into the statistical groundwork of research, covering inference, levels of significance, and confidence spans.
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