With hypothesis testing, there are only two types of errors: Type I error where we incorrectly reject Ho and Type II error where we incorrectly retain Ho.

Name: With hypothesis testing, there are only two types of errors: Type I error where we incorrectly reject Ho and Type II error where we incorrectly retain Ho.
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This is correct. Type I error occurs when we reject the null hypothesis (Ho) even though it is actually true. Type II error occurs when we fail to reject Ho even though it is actually false.

With Hypothesis Testing, There Are Only Two Types of Errors