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Explain Type I vs Type II errors | OneMain Financial Interview Question

Q: Explain Type I vs Type II errors

This question evaluates understanding of hypothesis testing and statistical inference, focusing on definitions and implications of Type I and Type II errors and their relationship to the significance level (α) and statistical power (1−β).

OneMain Financial

Dec 1, 2025, 12:00 AM

Data Scientist

Technical Screen

Statistics & Math

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Prompt

In hypothesis testing:

Define Type I error and Type II error .
Explain how they relate to significance level $\alpha$ and power $1-\beta$ .
Give a practical product/DS example where you would prioritize minimizing Type I vs Type II error, and why.

Explain Type I vs Type II errors

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Explain Type I vs Type II errors

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