Type 1 and Type 2 Errors

Question 1

What is a type 1 error?

Answer 1

Rejecting the null hypothesis when it is true, which is often caused by a significance level that is too lenient e.g. 0.10

Question 2

What is a type 2 error?

Answer 2

Accepting the null hypothesis when it is false, which is often caused by using a significance level that is too strict e.g 0.01