Why is it important for researchers to understand Type I and Type II errors?

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Why is it important for researchers to understand Type I and Type II errors?

Discussion post, due as soon as possible, 1-2 paragraphs:

 

Describe the research question you are pursuing for your final project. When drawing a statistical conclusion, what would a potential Type I error be? A potential Type II error? Why is it important for researchers to understand these errors?

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