The value used for alpha depends on the consequences of making a Type I and Type II error.

Name: The value used for alpha depends on the consequences of making a Type I and Type II error.
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The value of alpha is chosen by the researcher based on the level of risk they are willing to take for making a Type I error (rejecting a true null hypothesis) and a Type II error (accepting a false null hypothesis). The consequences of these errors will determine the appropriate alpha level to use in a study.

The Value Used for Alpha Depends on the Consequences of Making