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A plastics manufacturing plant dumps pollution into the Big River.This pollution leads to higher costs and disruption for fishermen on the river,for which they are not compensated.In this situation:
Null Hypothesis
A default hypothesis that there is no significant difference or relationship, serving as the basis for statistical testing.
Alternative Hypothesis
It is a statement that suggests there is a difference or effect in the population parameters being studied, contradicting the null hypothesis.
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."
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