type 1 error


Also found in: Financial.

type 1 error

an error which occurs when using data from a sample which demonstrates a statistically significant association when no such association is present in the population.
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Right now, credit unions may be making too many Type 1 errors in their loan programs," Rick said.
Additional topics that have been expanded upon and added include: different approaches to carrying out the simple effect analyses and pairwise comparisons (particularly with regard to related and repeated measure analyses), the power of the different approaches to the different effect analyses, optimal experimental designs, a review of Wilcox's arguments, normality violations and their consequence for experimental analyses, and the issue of inflated Type 1 error due to multiple hypotheses testing.
TABLE 7 Out of Sample Predictions of Financial Distress for Australian General Insurers 1999 Reg'n 1999 Reg'n 2000 Pred'n 2001 Pred'n (1999 I'Vars) (1999 I'Vars) Distress 1 Type 2 Error Rate (%) Type 1 Error Rate (%) 5 35.
2] 27% 23% Type 1 Error Rates (%) Total Individual FAST FAST Type II Error Rates RBC RBC score Factors 5 Percent 89 68 52 64 10 Percent 66 52 45 36 15 Percent 50 48 39 32 20 Percent 39 39 34 27 25 Percent 27 30 25 25 30 Percent 25 25 23 14 Consistent Cash Flow Type II Error Rates FAST Factors Factors 5 Percent 66 55 10 Percent 57 48 15 Percent 41 41 20 Percent 36 36 25 Percent 30 27 30 Percent 30 27 Note: 244 Solvent Companies, 44 Insolvent Companies.
The Holm's sequential Bonferroni procedure was used to control for Type 1 errors across the three pairwise comparisons.