Final answer:
The power of the statistical test is 0.62, which is calculated as 1 - 0.38, the probability of a Type II error.
Step-by-step explanation:
If a statistical test at the α = 0.01 level has a probability of 0.38 of making a Type II error when a specific alternative is true, the power of the test against this alternative is calculated as 1 minus the probability of a Type II error. Therefore, the power of the test is 1 - 0.38, which equals 0.62.
The power of a statistical test is an important concept in hypothesis testing. It quantifies the likelihood that the test will correctly reject a false null hypothesis. A high power is desirable as it means the test is more likely to detect an effect or difference when it exists.
Mathematically, the power can be expressed as:
- Power = 1 - β, where β is the probability of a Type II error.