MTH 233 Week 4 DQ 2
Type I and II Errors
2. Think of a major decision you have made. What factors helped you to make that decision? How can you relate a Type I or Type II error to your decision? What were the ramifications of the decision?
For example, in 1995, I was thinking about moving from Florida to Arizona.
HO: Move to Arizona
H1: Stay in Florida
A type I error would be to stay in Florida when I should have moved to Arizona.
A type II error would be to move to Arizona when I should have stayed in Florida.
If I had stayed in Florida, I would have probably not had some of the job and educational opportunities that I have here in Arizona. However, my increase in home value in Florida would have been much higher than in Arizona (especially in this economy).