Changing Alpha (α) from

question 10

Multiple Choice

Changing alpha (α) from .05 to .01 ______ the probability of making a type I error and ______ the probability of making a type II error.

• A) increases; increases
• B) increases; decreases
• C) decreases; increases
• D) decreases; decreases

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Definitions:

Consideration

The value (such as money, a service, or a promise) that is exchanged between parties in a contract.

Doctrine of Promissory Estoppel

A legal principle that prevents a promisor from retracting a promise that the promisee has relied upon, resulting in a significant change of position.

Disputed Debt

A disagreement between a creditor and a debtor over the existence, amount, or terms of repayment of a debt.

Mutual Assent

refers to the agreement between parties in a contract, shown by a valid offer and acceptance, which is required for a contract to be enforceable.