Multiple Choice
Guidelines for setting the level of significance include:
A) If costs associated with type 1 error are high and a type 2 error is not costly set the level of significance very low.
B) If costs associated with type 1 error are high and a type 2 error is not costly set the level of significance very high.
C) If costs associated with type 1 error are not very high and a type 2 error is costly set the level of significance much higher.
D) A and C
E) B and C
Correct Answer:
Verified
Correct Answer:
Verified
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