The Terms Statistical Testing and Risk Are Intertwined

question 69

Essay

The terms statistical testing and risk are intertwined. Below, describe how each of the statistical terms relates to sample size or sampling error and the different types of risk.
Statistical Terms
(a) Likely rate of deviation
(b) Tolerable rate of deviation
(c) Assessing control risk too high
(d) Assessing control risk too low
(e) Incorrect acceptance
(f) Incorrect rejection

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