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Hypothesis Testing:

In the North American court system, a defendant is assumed innocent until proven guilty. In an ideal world, we would expect that the truly innocent always go free, whereas the truly guilty ones will always be convicted. Now, let us tackle the following questions?

a. In the context of the Type I error and Type II error, can you relate a court trial scenario in terms of these two errors?

b. What would be your ideal situation if you are the defendant?

c. What would be your ideal situation if you are the prosecuting attorney?

d. Lastly, what do you think of the scenario of an ideal world where we expect that no innocent will be found guilty and all guilty will be convicted in the context of Type I and Type II error?

Business Economics, Economics

  • Category:- Business Economics
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