Question: Define Type I and Type II errors. Give an example of a Type I error which would have serious consequences. Give an example of a

  1. Define Type I and Type II errors. Give an example of a Type I error which would have serious consequences. Give an example of a Type II error which would have serious consequences. What should be done to minimize the consequences of a serious Type I error?
  2. Define P-values. Explain the two methods of interpreting P-values.

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