Does anyone have a trick to remember Type I & 2 errors?

[kjsgbp]

I can memorize 300 formulas but for some reason I cannot keep these two straight. Any tricks to help remember would be appreciated.

 

[lionheart18]

is this for the manager continuing policy? my clue for this is that
Type I error - having a friend that is fake
Type II error - rejected a true friend

 

[cgy5478]

Think of yourself as a good manager who makes $ for your firm.
If a firm fires you, it would be making a type II error.

 

[Galli]

False positive = Type I error
False negative = Type II error

 

[espeon]

Idk if it helps but Schweser gives a tip that is:
Type I - “HORN” -> H0 Reject Null (when null is true), aka false positive

 

[Enemyofmyenemy]

Here’s how I remeber it:
I know that the null hypothesis always contains the “=0”. In this case, Ho = manager’s value-added skill = 0, then I just use this trick to remember the action (DO reject or DO NOT reject)
Type 2 - 2 words - DO NOT reject
Type 1 - 1 word - DO reject
These are errors, so if Type 2 occurs - then the null was not rejected (value - added = 0), when it should have been rejected, and as a result a good manger (with value - added not equal to 0) was fired.

 

[spork]

^That’s perfect for me. Thanks

 

[kjsgbp]

Thanks for the suggestions.