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November 12, 2022

Your mayor just announced that the local unemployment rate dropped last month from the prior month. It went from 10.5% to 10.4%. Is this a significant drop? Explain.

DQ1 Your mayor just announced that the local unemployment rate dropped last month from the prior month. It went from 10.5% to 10.4%. Is this a significant drop? Explain.

DQ2 Give an example of a situation in which you believe a Type I Error is more serious than a Type II Error. Give an example of a situation in which you believe a Type II Error is more serious than a Type I Error. In each case, why do you think so?

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