**Question:**Consider a scenario where a Type I error is less severe than a Type II error. Pick the most reasonable value for α.- 0.01- 0.05- 0.10- 0.95**Explanation:**This question presents a scenario in which the consequences of a Type I error (false positive) are considered less severe than those of a Type II error (false negative). In such cases, one might choose a higher significance level (α) to reduce the chance of a Type II error by increasing the chance of a Type I error.**Options:**1. **0.01:** A conservative choice, minimizing Type I errors but potentially increasing Type II errors.2. **0.05:** A standard choice in many studies, balancing Type I and Type II errors.3. **0.10:** A reasonable choice when Type I errors are less concerning, as it reduces the likelihood of Type II errors.4. **0.95:** Typically not used for α, as it would lead to a very high chance of a Type I error.**Submit Question:**A button labeled "Submit Question" suggests this is an interactive exercise where you can select an option and submit your answer.

Type I error more serious than Type II error. If choose low level of α, then there is a greater chance to increase the Type II error. Hence, Choose low level of α.Here, the low level of α is 0.01. Hence, Correct Answer: 0.01.

Answered: Consider a scenario where a Type I…

Math

Statistics

Consider a scenario where a Type I error is less severe than a Type II error. Pick the most reasonable value for а. O 0.01 O 0.05 O 0.10 O 0.95

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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