Examlex
Is there a materiality exception associated with the unrelated business income tax?
Type I Error
A Type I error occurs in hypothesis testing when a true null hypothesis is incorrectly rejected, falsely indicating a significant effect or difference when there is none.
Significance Level
The probability of rejecting the null hypothesis in a statistical test when it is actually true, typically denoted as alpha.
P < .01
Indicates that the probability of the observed data occurring by chance is less than 1%, suggesting strong evidence against the null hypothesis.
P < .05
"P < .05" indicates that the probability of the observed data (or something more extreme) given that the null hypothesis is true is less than 5%, commonly used as a threshold for statistical significance.
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