Statistical Methods for Data Science
The beta level, denoted as \(\beta\), refers to the probability of making a Type II error in hypothesis testing, which occurs when the null hypothesis is incorrectly accepted when it is actually false. This measure is crucial in understanding the effectiveness of a statistical test, as it influences the power of the test. A lower beta level indicates a higher likelihood of correctly rejecting a false null hypothesis, thus enhancing the reliability of statistical conclusions.
congrats on reading the definition of Beta Level. now let's actually learn it.