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Confuse about the Type I error and Type II error
Hi everyone In the Model Validation Topic, I am confused why type I error leads to "increase losses" and type II error "increase opportunity cost". since I know that the type I error is reject H0 given H0 is True and type II error is accept H0 given H0 is False but not sure how these link to...- kengkung
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- type-i-error type-ii-error
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- Forum: P2.T7. Operational Risk & ERM (25%)