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Confuse about the Type I error and Type II error


New Member
Hi everyone

In the Model Validation Topic, I am confused why type I error leads to "increase losses" and type II error "increase opportunity cost".
since I know that the type I error is reject H0 given H0 is True and type II error is accept H0 given H0 is False
but not sure how these link to the concept above. Please anyone explain this ?

Thank you