A researcher investigating the effectiveness of a new cognitive therapy decides to reduce the significance level of their statistical analysis from 5% (α=0.05\alpha = 0.05α=0.05) to 1% (α=0.01\alpha = 0.01α=0.01).
Which of the following correctly describes the effect of this change on the probabilities of committing Type I and Type II errors?
The probability of committing a Type I error decreases, while the probability of committing a Type II error increases.
The probability of committing a Type I error increases, while the probability of committing a Type II error decreases.
The probability of committing a Type I error decreases, while the probability of committing a Type II error remains unchanged.
Both the probability of committing a Type I error and the probability of committing a Type II error decrease.
