what are the implications of choosing 0.01 as alpha level? what conditions does it meet? explain...

Question

Question

what are the implications of choosing 0.01 as alpha level? what conditions does it meet? explain why it was appropriate to choose this one.

Answer 1

Answer #1

Choosing 0.01 as alpha level mean being ( 1 - 0.01 )*100 = 99% level of confidence.

For the inference made by the result, all the population values will lie in it 99% times.

It is appropriate to chose the same a it provides the higher accuracy

Answer 2

Similar Homework Help Questions

What is the t-critical value for an alpha level of 0.01 for a one-tailed test for...

What is the t-critical value for an alpha level of 0.01 for a one-tailed test for N=79? Report either the positive or negative value, and round your answer to 2 decimals.
A researcher selects an alpha level of 0.15 for a study. What does this indicate about...

A researcher selects an alpha level of 0.15 for a study. What does this indicate about the statistical analysis of the study? the researcher is willing to accept a 15% chance that the null hypothesis will be rejected incorrectly the study results are likely to reveal a high level of clinical significance of the alternative hypthesis there is a high probability of making a type one error the researcher is willing to accept an 85% chance that the null hypothesis...
What is one news story that has implications in marketing? Explain why you think it has...

What is one news story that has implications in marketing? Explain why you think it has marketing implications and who in particular should be paying attention (advertisers, brand managers, the agriculture industry, consumers, etc.).

1. Choose one microeconomic concept applied to the business Netflix. Explain your findings and the implications...

1. Choose one microeconomic concept applied to the business Netflix. Explain your findings and the implications of Netflix's sustainability. 2. Using the same microeconomic concept chosen above, explain how it would be applied to as a self-employed small business owner. What does this imply about this Netflix's future?
In class we discussed the addition of HCl to alpha pinene. What kind of conditions would...

In class we discussed the addition of HCl to alpha pinene. What kind of conditions would cause anti-Markovnikov addition to this compound? Would you expect one or two isomeric forms of the product? Explain.
8. What is “Going Concern Principle”? What are the implications of this principle? How does it...

8. What is “Going Concern Principle”? What are the implications of this principle? How does it affect Balance Sheet – explain briefly? What are the responsibilities of an Auditor if this is at stake?

Under what environmental conditions does ABA level increase in plants? Why would light cause a change...

Under what environmental conditions does ABA level increase in plants? Why would light cause a change in stomatal aperture? What specific molecular events cause the opening of the stomatal aperture? What specific changes occurred in the guard cells? Why is there a difference in your result when you used mannitol instead of KCl?
Explain why and under what necessary conditions does secondary super heating increases the efficiency of the...

Explain why and under what necessary conditions does secondary super heating increases the efficiency of the rankine cycle. draw this on I-S diagram. enthalpy vs entropy diagram
Why does it matter to improve Public Health with physical activity, what are the broader implications?

Why does it matter to improve Public Health with physical activity, what are the broader implications?

In sensorimotor adaptation paradigms, what is an aftereffect? What are the implications of an aftereffect? What...

In sensorimotor adaptation paradigms, what is an aftereffect? What are the implications of an aftereffect? What does it mean if one participant has a greater aftereffect than another? Why are aftereffects important?