Examlex
Discuss the predictions of the compensating differentials theory.
Type I Error
The error that occurs when a true null hypothesis is incorrectly rejected, often denoted as the false positive rate.
Type II Error
A Type II error occurs when a statistical test fails to reject a false null hypothesis, indicating a false negative result.
Sample Size
The number of observations or data points collected in a statistical sample from a population.
Margin of Error
The amount of error that can be tolerated in statistical estimates, indicating the extent to which the sample results can differ from the true population values.
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