If the cost of a Type I error is high, a smaller value should be chosen for the _____.
A) critical value
B) confidence coefficient
C) level of significance
D) test statistic

Question

Quizplus · Accepted Answer

The level of significance represents the probability of making a Type I error. Therefore, if the cost of a Type I error is high, a smaller value should be chosen for the level of significance to minimize the probability of making such an error.

If the Cost of a Type I Error Is High