Examlex
When Southwest Airlines sends an e-mail to frequent-flier customers offering a special low price between selected cities if the plane ticket is purchased within the next four days, this is an example of:
Null Hypothesis
A statement used in statistics that proposes there is no significant difference or effect.
Level of Significance
The threshold at which the null hypothesis is rejected in favor of the alternative hypothesis in statistical testing, indicating the probability of making a Type I error.
Type II Error
A Type II Error occurs when a statistical test fails to reject a false null hypothesis, falsely indicating no effect or difference when one exists.
Level of Significance
The probability threshold below which the null hypothesis is rejected in hypothesis testing.
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