Examlex
A company may outsource some of its production in order to focus on core competencies.
Type I Error
A statistical error occurring when a true null hypothesis is incorrectly rejected.
Type II Error
A statistical mistake occurring when a test fails to reject a false null hypothesis, incorrectly indicating no effect or difference when one actually exists.
Significance Level
A statistical threshold that determines the probability of rejecting the null hypothesis when it is true, commonly set at 0.05 or 5%.
Type I Error
The incorrect rejection of a true null hypothesis, often referred to as a "false positive" finding in research.
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