The Term Error Is Used in Two Different Ways in Hypothesis

question 13

Essay

The term error is used in two different ways in hypothesis testing: a Type I error (or Type II)and the standard error.
a. What can a researcher do to influence the size of the standard error? Does this action have any effect on the probability of a Type I error?
b. What can a researcher do to influence the probability of a Type I error? Does this action have any effect on the size of the standard error?

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Definitions:

Unit Banking States

States in the U.S. where banks are required to operate only a single banking office, limiting their physical presence and expansion.

Bank Charter

A legal document that authorizes the creation of a banking institution and outlines its operations.

M1

The most liquid components of the money supply, including cash, demand deposits, and other liquid deposits against which checks can be written.

Passbook Savings Accounts

A type of savings account where transactions are recorded in a physical booklet, traditionally offering low interest rates.