In the context of regulating new drugs, a type I error occurs when__ and a type II error occurs when_ A good drug gets approved for sale; a bad drug gets rejected and does not go on the market A bad drug gets rejected and does not go on the market; a good drug gets approved for sale A bad drug gets approved for sale; a good drug gets rejected and does not go on the market A good drug gets rejected and does not go on the market; a bad drug gets approved for sale

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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1

In the context of regulating new drugs, a type I error occurs when
and a type II crror occurs when_
A good drug gets approved for sale; a bad drug gets rejected and does not go on the
market
A bad drug gets rejected and does not go on the market; a good drug gets approved for
sale
O A bad drug gets approved for sale; a good drug gets rejected and does not go on the
market
A good drug gets rejected and does not go on the market; a bad drug gets approved for
sale
Transcribed Image Text:In the context of regulating new drugs, a type I error occurs when and a type II crror occurs when_ A good drug gets approved for sale; a bad drug gets rejected and does not go on the market A bad drug gets rejected and does not go on the market; a good drug gets approved for sale O A bad drug gets approved for sale; a good drug gets rejected and does not go on the market A good drug gets rejected and does not go on the market; a bad drug gets approved for sale
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