SOLUTION: .05 is the conventional alpha used by psychologists as it is believed to be a good balance between the risk of making a type I error and the risk of making a type II error. What

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Question 1118049: .05 is the conventional alpha used by psychologists as it is believed to be a good balance between the risk of making a type I error and the risk of making a type II error.
What would happen if we decreased our alpha? For example, if we made it .025 what type of error are we at more risk of making and why?
Answer by stanbon(75887) About Me  (Show Source):
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.05 is the conventional alpha used by psychologists as it is believed to be a good balance between the risk of making a type I error and the risk of making a type II error.
What would happen if we decreased our alpha? For example, if we made it .025 what type of error are we at more risk of making and why?
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Alpha determines the size of the reject interval.
As alpha decreases the size of the reject interval decreases.
As the reject interval decreases the chance of rejecting Ho decreases.
That means the chance of a Type I Error decreases.
That means the chance of accepting Ho increases.
That means the chance of a Type II Error increases.
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Cheers,
Stan H.
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