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Type i and type ii errors in hypothesis testing

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Reference no: EM131460459

Quantitative Method Research. Please Cite answers.

Question 1: What is a type I and type II errors in hypothesis testing? What would be examples of each? Explain

Question 2: What is the difference between statistical significance and practical significance? Why is statistical significance not necessarily of practical important difference to a business decision? Provide an example of this.

Reference no: EM131460459

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