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Type II Error
The error occurs when the null hypothesis is not rejected when it is actually false.
Null Hypothesis
The null hypothesis is a statement in statistical inference that suggests there is no significant effect or no difference, serving as the default assumption to be tested.
Type I Error
The mistake of rejecting the null hypothesis when it is actually true, commonly referred to as a "false positive".
Beta
A symbol often representing the type II error rate in hypothesis testing, or a measure of risk exposure in finance.
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