The greater the costs associated with Type 1 error, the _____ we should set our maximum risk.
A) higher
B) lower

Name: The greater the costs associated with Type 1 error, the _____ we should set our maximum risk. A) higher B) lower
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Question

Quizplus · Accepted Answer

If costs associated with Type 1 error are greater, it means that making an incorrect decision could have serious consequences. Hence, we should set our maximum risk at a lower level to minimize the chance of making a Type 1 error.

The Greater the Costs Associated with Type 1 Error, the _____