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How do I set alpha in statistics?

Updated: 4/28/2022
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6y ago

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You select the alpha level based on a number of factors. One consideration is the variability of the characteristic which you are trying to measure. Another, very important criterion is the importance of the decision to be made. If the consequences of the wrong decision are dire then you want a very high alpha, otherwise you may prefer a lower alpha.

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Q: How do I set alpha in statistics?
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