Type Errors
In the decision making process, when faced with uncertainty, a subject can make two possible errors: type I or type II. A type I error is a false-positive or in layman's terms, playing it safe. A fire alarm that later turns out to be a false alarm is a type I error. A type II error is a false-negative, or the siding with skepticism. Ignoring the fire alarm because it is often wrong, but it later turning out to be accurate is a type II error.
Read more about this topic: Error Management Theory
Famous quotes containing the words type and/or errors:
“This type of man who is devoted to the study of wisdom is always most unlucky in everything, and particularly when it comes to procreating children; I imagine this is because Nature wants to ensure that the evils of wisdom shall not spread further throughout mankind.”
—Desiderius Erasmus (c. 14661536)
“[Montesquieu] lifted the veil from the venerable errors which enslaved opinion, and pointed the way to those luminous truths of which he had but a glimpse himself.”
—James Madison (17511836)