单选题 John Jenkins, CFA, is performing a study on the behavior of the mean P/E ratio for a sample of small-cap companies. Which of the following statements is TRUE? A. One minus the confidence level of the test represents the probability of making a Type Ⅱ error. B. A Type I error represents the failure to reject the null hypothesis when it is, in truth, false. C. The significance level of the test represents the probability of making a Type I error.

【正确答案】 C

【答案解析】A Type I error is the rejection of the null when the null is actually true. The significance level of the test (alpha) (which is one minus the confidence level) is the probability of making a Type I error. A Type Ⅱ error is the failure to reject the null when it is actually false.