The statistical risk that researchers are willing to accept when making the decision to fail to reject or reject the null hypothesis is called:

A) Type of error
B) Margin of Error
C) Level of Significance
D) Confidence Level

Level of Significance

A statistical threshold used to determine if a result can be considered statistically significant, often denoted by alpha (α).

Statistical Risk

Statistical risk quantifies the likelihood of a negative event occurring. It is often used in the context of financial markets, health studies, and other areas requiring risk assessment based on numerical data.