type I error

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type I error

[‚tīp ′wən ‚er·ər]
(statistics)
One of two types of errors in testing hypotheses: incorrectly rejecting the hypothesis tested when it is true. Also known as error of the first kind.
References in periodicals archive ?
Alpha Risk Management, whose clients include HSBC, MTV, S4C, Asda, Oasis, CNN, Fox News, the United States Department of Defense, NHS Trusts and motor sport organisations such as Rally GB and Silverstone, has also found itself becoming more involved in providing security for television companies, as well as events like outdoor music concerts.
Using the positive approach, alpha risk (Type I error) is concluding that the account is in error ([absolute value of E]>0) when it is not in error ([absolute value of E]=0) as shown in table 1 panel A.
Actual State: Actual State: [absolute [absolute Conclusion value of E]=0 value of E]>0 [absolute value of E]=0 Correct Decision Beta Risk (Type II Error) [absolute value of E]>0 Alpha Risk Correct Decision (Type I Error) Panel B: Negative Approach [H.
The alpha risk at [absolute value of E]=0 is the likelihood that an auditor will conclude that an account is in error when it is not.
Similar to the alpha risk, a large prediction error (MPE), such as that for the X-11 model, can lead to anomalies resulting in very low or high beta risks regardless of the width of the confidence interval.