In: Statistics and Probability
Discuss how choosing a significance level of 90%, 95%, or 99% might influence the results of our analysis as well as the factors you might consider in making your choice. Consider and discuss how doing the wrong thing (alpha risk, implementing when the improvements aren’t significant) might be perceived differently than choosing to do nothing yet (beta risk, going back for more design when the improvements are significant). How might you approach this analysis of your two data samples