Type I and Type II Error Chat
Автор: Richie Owens CFA
Загружено: 2025-05-01
Просмотров: 160
Day 2 of our 14 concepts in a fortnight. Type I and type II errors today. I'm focusing on the interpretation, so it's a walkthrough showing how we can observe the occurrence of type I errors (given behind the scenes knowledge of the population) and see why the probability of making one is equal to the significance level. Struggled to squeeze this in to my arbitrary cut off of 10 minutes, but just about managed it if you assume it's 1 minute 40 seconds shorter than it actually is. The aim - focus your mind how they occur, which engages your brain. As opposed to staring at formulas, which does not.
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