Calculating error rates
We talked a bit about the multiple comparisons problem in the slides, but let's take things a step further. In this exercise, you'll look into how the phenomenon affects error rate more precisely.
Your colleague is strongly considering running 60 distinct hypothesis tests. In order to convince them otherwise, compute the probability of a Type I error for 60 hypothesis tests with a single-test 5% significance level.
This exercise is part of the course
Practicing Statistics Interview Questions in Python
Hands-on interactive exercise
Have a go at this exercise by completing this sample code.
# Print error rate for 60 tests with 5% significance
error_rate = 1 - ____
print(____)