In statistics, a conclusion refers to summarizing and interpreting the results of an analysis, including any decisions made based on those results.
Statistical significance: Statistical significance refers to finding results that are unlikely to occur by chance alone. It helps determine if an observed effect is genuine rather than due to random variability.
Type I error: Type I error occurs when we reject the null hypothesis even though it is actually true. It represents false positive findings.
Type II error: Type II error occurs when we fail to reject the null hypothesis even though it is actually false. It represents false negative findings.
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