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Answer added by  sagar uparkar, Manager, Icici Bank
10 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
10 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.