Level to something more reasonable

Reference no: EM13497957

Lisa’s father, an accountant, has been listening to Lisa tell him about Type I errors and ? = .05. He responds: “.05? That means you’re making an error one time in twenty! If I made errors 5 percent of the time I’d be out of a job so fast it would make your head spin! Those psychologists need to shape up and set their ? level to something more reasonable, say .001 or .0001!” (a) Is Lisa’s father’s interpretation that an alpha level of 5% means you will commit errors 5% of the time correct? Explain. (b) What are the advantages and/or disadvantages of doing what Lisa’s father suggests?

Reference no: EM13497957

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