Type I and Type II Errors
A type I error occurs when the null hypothesis is true and it is rejected.
A type II error occurs when the null hypothesis is false and it is accepted.
Probability = 1 - α
TYPE II ERROR
|Rejected||TYPE I ERROR
Probability = α
The probability of committing a type I error is equivalent to the significance level, α.
The probability of committing a type II error is generally unknown, but is denoted by β.