Final answer:
The significance level of a statistical test, often denoted as alpha (α), represents the probability of making a Type I error.
Step-by-step explanation:
The significance level of a statistical test, often denoted as alpha (α), represents the probability of making a Type I error. A Type I error occurs when the null hypothesis is rejected even though it is true. In other words, it is the probability of falsely rejecting the null hypothesis. In this case, a significance level of a=0.05 means that there is a 5% chance of making a Type I error.