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Pretend you're an engineer in charge of managing the construction of a new highway. You decide to specify a proprietary paving material that happens to be manufactured by a company
That is owned by your brother-in-law. This situation represents a possible
Type I Error
The incorrect rejection of a true null hypothesis, also known as a "false positive" in hypothesis testing.
P-Value
The probability of observing a test statistic at least as extreme as the one observed, assuming the null hypothesis is true.
Significance Level
The probability of rejecting the null hypothesis in a statistical test when it is actually true, a measure of the risk of making a Type I error.
Alternative Hypothesis
The hypothesis that there is a significant difference or effect, contrasting with the null hypothesis and indicating the presence of an observed effect.
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