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Which is better a 0.05 level of significance or 0.01 level of significance?
Wiki User
∙ 13y ago
0.05 level of significance indicates that there is a 5% chance (0.05) that, under the null hypothesis, the observation could have occurred by chance. The 0.01 level indicates that there is a much smaller likelihood of the event occurring purely by chance - much stronger evidence for rejecting the null hypothesis in favour of the alternative hypothesis.
Wiki User
∙ 13y ago
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What is greater 0.05 or 0.01?
0.05 > 0.01 Simnce both values are to two decimal places, then 'drop' the decimal point 005 & 001 Now 'drop' the prefic zeroes. 5 & 1 Hence 5 > 1 . It follows that 0.05 > 0,01
What is thicker 003 or 005?
005 is thicker than 003
What is the first 15 counting numbers of base 6?
001, 002, 003, 004, 005, 010, 011, 012, 013, 014, 015, 020, 021, 022 and 023.
What is 005 equal?
005 = 5
What is the reciprocal of 005?
005 = 5 so the reciprocal of 005 = reciprocal of 5 = 1/5 = 0.2
Which is better a 005 level of significance or 001 level of significance?
"Better" is subjective. A 0.005 level of significance refers to a statistical test in which there is only a 0.5 percent chance that a result as extreme as that observed (or more extreme) occurs by pure chance. A 0.001 level of significance is even stricter. So with the 0.001 level of significance, there is a much better chance that when you decide to reject the null hypothesis, it did deserve to be rejected. And consequently the probability that you reject the null hypothesis when it was true (Type I error) is smaller. However, all this comes at a cost. As the level of significance increases, the probability of the Type II error also increases. So, with the 0.001 level of significance, there is a greater probability that you fail to reject the null hypothesis because the evidence against it is not strong enough. So "better" then becomes a consideration of the relative costs and benefits of the consequences of the correct decisions and the two types of errors.
How many 3 digit numbers have the sum of their digits equal to 5?
002+002+001=005
How many floz to 0.005 teaspoon?
There are .001 ounces in .005 teaspoon.
What is the universal branch code for absa bank Richards bay?
UNIVERSAL BRANCH CODES IN SOUTH AFRICA ABSA Bank - 632 005 Bank of Athens - 410 506 Bidvest Bank - 462 005 Capitech Bank - 470 010 FNB - 254 005 Investec Private Bank - 580 105 Nedbank - 198 765 SA Post Bank (Post Office) - 460 005 Standard Bank - 051 001
When you check voice messages by holding down 1 it calls 1-001-005-080?
This is happening to me and I'd really like to know what it means.
What is thicker 003 or 005?
005 is thicker than 003
What is the first 15 counting numbers of base 6?
001, 002, 003, 004, 005, 010, 011, 012, 013, 014, 015, 020, 021, 022 and 023.
In Pokemon diamond in the national dex what Pokemon are 001 002 003 004 005 006 007 008 009?
chickorita bayleef meganium totodile croconaw feraligater cyndaquil quilava typhlosion
.005 is what percent?
.005= .5%
What is 005 equal?
005 = 5
What is the reciprocal of 005?
005 = 5 so the reciprocal of 005 = reciprocal of 5 = 1/5 = 0.2
What is 10e-005?
15
