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Walking along a railroad track in a daydream, suppose you are suddenly aware of a loud noise right behind you.  What would be the “type I” error? What would be the “type II” error? Which is more serious? So what would you do?

Walking along a railroad track in a daydream, suppose you are suddenly aware of a loud noise rightbehind you. What would be the “type I” error? What would be the “type II” error? Which is…