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Cosmo, age three, has always been cooperative about going to bed at night. Then the family takes a trip and stays with relatives, where Cosmo 's cousin, Wanda (also age three) , has a royal fit at bedtime. Cosmo watches while Wanda's parents read her extra stories and bring her a glass of juice to calm her down. After Cosmo and his family return home, Cosmo begins to throw tantrums at bedtime. Cosmo's change in behavior is best explained by
α
Typically represents the level of significance in hypothesis testing, indicating the probability of rejecting the null hypothesis when it is actually true.
β Recalculate
A statistical process of re-estimating the beta coefficient in finance or regression models, adjusting for changes in variables or data.
Type II Error
A statistical error that occurs when a false null hypothesis is not rejected, meaning a real effect or difference is missed.
Power of the Test
The probability that the test correctly rejects a false null hypothesis, effectively detecting an effect when there is one.
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