Probability of error: Difference between revisions

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The '''probability of error''' is similarly distinguished.
* For a Type I error, it is shown as α (alpha) and is known as the ''size'' of the test and is 1 minus the [[Specificity (tests)|specificity]] of the test. This quantity is sometimes referred to as the confidence of the test, or the level of significance (LOS) of the test.
* For a Type II error, it is shown as β (beta) and is 1 minus the [[Statistical power|power]] or 1 minus the [[sensitivity (tests)|sensitivity]] of the test.<ref>{{Cite web |title=Type I and Type II Error - Definition, Table and Example |url=https://byjus.com/maths/type-i-and-type-ii-errors/ |access-date=2024-02-29 |website=BYJUS |language=en}}</ref>
 
==Statistical and econometric modelling==