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Answer added by  sagar uparkar, Manager, Icici Bank
9 years ago

Hi Mehwish,   Good evening. In my opinion, level of significance is the type I error, rejecting null hypothesis when null hypothesis is true. It is the size of the critic ... See More

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Answer added by  sagar uparkar, Manager, Icici Bank
9 years ago

Hi Mehwish,   Good evening. In my opinion, type II error is error of accepting null hypothesis when null hypothesis is false. It is denoted by Beta.