CAT: What is hypothesis testing? Please illustrate the five steps of doing hypotheses testing with an example.
CAT: Significance level of 0.1 and 0.5
Researchers routinely choose an alpha level of 0.05 for testing their hypotheses. What are some experiments for which you might want a lower alpha level (e.g., 0.01)? What are some situations in which you might accept a higher level (e.g., 0.1)