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What is the name of the underlying treaty of the WTO?
Level of Significance
Refers to the probability threshold below which the null hypothesis is rejected, indicating the degree of evidence required to conclude that an effect is statistically significant.
Type I Error
The mistaken disapproval of a valid null hypothesis, commonly referred to as a "false positive."
Null Hypothesis
A statement in hypothesis testing that assumes no significant difference or effect, serving as a default position until evidence indicates otherwise.
Incorrect Decision
A decision that does not result in the optimal or expected outcome, often due to faulty reasoning or misinformation.
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