What is the likelihood of a type 1 error if the null, Financial Management

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What is the likelihood of a type 1 error if the null

1. What is the likelihood of a Type 1 error if the null hypothesis is actually true? What is the likelihood of a Type 1 error if the null hypothesis is actually false?

2. What is meant by the power of a statistical test, and how can it be increased?

3. What are the practical uses of the effect-size statistic?

4. What is the meaning of the proportion of explained variability?

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