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Mark Cielo B. Janario

What are the risks of using a very small significance level (e.g., α = 0.001)?

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John Mark Domingo
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Using a very small significance level like α = 0.001 reduces the chance of a Type I error (false positive) but increases the risk of a Type II error (failing to detect a real effect) and may require a much larger sample size to find significance.

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