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SOLVED:Suppose that for a particular hypothesis test, the consequences of a Type I error are very serious. Would you want to carry out the test using a small significance level α(such as 0.01 ) or a larger significance level (such as 0.10) ? Explain the reason for your choice. (Hint: See discussion just before Example 10.7 .)

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SOLVED: How do the Type I and Type II error rates of one-tailed and two-tailed tests differ?

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