Level of Significance Example
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What does a level of significance of .05 mean? Choose from one of the following options:
There is a 50% chance of Type I error.
There is a .5% chance of Type I error.
There is a .05% chance of Type I error.
There is a 5% chance of Type I error.
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Solution Summary
This solution defines the statistical level of significance and how to represent it as a percentage.
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