Definition of Alpha Risk:
Alpha risk is defined as the risk of rejecting the null hypothesis when in fact it is true.
Synonymous with: Type I error, Producers Risk
In other words, stating a difference exists where actually there is none. Alpha risk is stated in terms of probability (such as 0.05 or 5%).
The value (1-alpha) corresponds to the confidence level of a statistical test, so a level of significance alpha = 0.05 corresponds to a 95% confidence level.
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