The choice of significance level depends on several factors:
Context of the Study: In critical public health research, such as vaccine efficacy studies, a lower significance level (e.g., 0.01) might be chosen to minimize the risk of false positives. Sample Size: Smaller studies might require a higher significance level (e.g., 0.1) to ensure sufficient power to detect an effect. Consequences of Errors: If the cost of a Type I error is high (e.g., falsely identifying a substance as carcinogenic), a more stringent threshold is appropriate.
