Examlex
Which of the following is the most important backbone of market exchange?
Type II Error
The error that occurs when a statistical test fails to reject a false null hypothesis, mistakenly indicating that there is no effect or difference when there is.
Type I Error
The incorrect rejection of a true null hypothesis, also known as a "false positive."
Type II Error
Occurs when a statistical test fails to reject a false null hypothesis, also known as a false negative.
Null Hypothesis
A hypothesis that states there is no statistical significance between the two variables in the hypothesis. It posits no effect or no difference as a default stance to be tested against.
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