Examlex
When is a contract considered to be contrary to public policy? Give an example.
Type I Error
The incorrect rejection of a true null hypothesis or a false positive in hypothesis testing.
Type II Error
The mistake of failing to reject a null hypothesis when it is actually false, commonly represented by the symbol β (beta).
One-Tailed Test
A hypothesis test in which the region of rejection is only on one side of the sampling distribution, used when a research hypothesis predicts a direction of the effect.
P-Value
The p-value measures the evidence against the null hypothesis, indicating the probability of observing the test results under the null hypothesis.
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