Lecture 4 introduced Type I and Type II errors.

Type 1 errors are known as false positives, and occur when an outcome is incorrectly predicted as being true, when in reality it is false.

Type 2 errors are known as false negatives, and occur when an outcome is incorrectly predicted as being false, when in reality it is true.

Why?

Why do these errors exist?

I guess these issues are inevitable.
When we assume the outcome of a situation, it is what it is, an assumption.

When we favour an outcome over another, it is because we have a greater belief in the possibility of that outcome. A possibility.

Which?

If we had to live with one of these errors, which would you prefer?

It’s a hard question to answer, and it depends on the situation of the event.

Would you rather have false hope in something amazing, or to experience a nightmare, but wake up realising that everything is all good.

Probably you would rather experience the second outcome - but it isn’t always the case.