Suppose that we want to select between two prediction models, M 1 M 1 and M 2

Question:

Suppose that we want to select between two prediction models, $M_{1}$ and $M_{2}$ . We have performed 10 rounds of 10 -fold cross-validation on each model, where the same data partitioning in round $i$ is used for both $M_{1}$ and $M_{2}$ . The error rates obtained for $M_{1}$ are 30.5, 32.2, 20.7, 20.6, 31.0, 41.0, 27.7, 26.0, 21.5, 26.0. The error rates for $M_{2}$ are 22.4, 14.5, 22.4, 19.6, 20.7, 20.4, 22.1, 19.4, 16.2, 35.0. Comment on whether one model is significantly better than the other considering a significance level of $1 %$ .