Examlex
The subdivision of real property into lots for resale when no substantial physical improvements have been made to the property never causes the gain from sale of the lots to be treated as ordinary income.
Type I Error
A statistical error made by rejecting the null hypothesis when it is actually true, known as a false positive.
Type II Error
The failure to reject a false null hypothesis, also known as a "false negative."
Null Hypothesis
A statement positing that there is no significant difference or effect, serving as the default assumption in hypothesis testing.
Type II Error
The error that occurs when a false null hypothesis is not rejected, also known as a "false negative."
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