Describe setting up of level of significance with a focus on its steps.

The experimenter has to take a decision about the level of confidence or significance at which the hypothesis is going to be tested. At times the researcher may decide to use 0:05 or 5% level of significance for rejecting a null hypothesis (when a hypothesis is rejected at the 5% level it is said that the chances are 95 out of 100, that the hypothesis is not true and only 5 chances out of 100 that it is true). At other times, the researcher may prefer to make it more rigid and therefore, use the 0.01 or 1% level of significance. If a hypothesis is rejected at this level, the chances are 99 out of 100, that the hypothesis is not true and that only 1 chance out of 100 is true. This level on which we reject the null hypothesis, ____ ______ ____ ______ _________.
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