Hypothesis Testing

Type II Error (β): The Error of Failing to Reject the Null Hypothesis when the Alternative Hypothesis is True
A Type II Error, denoted as β, occurs when a statistical test fails to reject the null hypothesis, even though the alternative hypothesis is true. This error can have significant consequences in scientific research and decision-making processes.

Finance Dictionary Pro

Our mission is to empower you with the tools and knowledge you need to make informed decisions, understand intricate financial concepts, and stay ahead in an ever-evolving market.