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Questions in Statistics - What are Type I and Type II errors? Why do you want to avoid them?

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? What are Type I and Type II errors? Why do you want to avoid them?
? What is effect size and what does it tell you about your findings?
? What is power of a statistical test and what factors affect it?
? When is it necessary to conduct a t test?
? What are the "degrees of freedom"? Why would you use this term instead of N to calculate a sample variance?

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? What are Type I and Type II errors? Why do you want to avoid them?

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False Positive Versus False Negative.

Statistically speaking, we are generally agnostic to which is a bigger problem, type I (false positive) errors or type II (false negative) errors. However, in certain circumstances it may be important to try and put more emphasis on avoiding one or the other.
Can you think of an example of where you may want to try harder to avoid one type or another?
Can you think of a policy; political, economic, social, or otherwise, that pushes people toward avoiding one type or another? What are the repercussions of such policies?

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