Type I vs Type II Errors: The Fire Alarm That Cried Wolf vs The Fire Alarm That Slept Through Arson

Your fire alarm screams at burnt toast (Type I). Your fire alarm sleeps through actual fires (Type II). Both are failures, but VERY different failures. One makes you ignore all future alarms. The other kills you. Here's why every data scientist must understand both — and why you can't eliminate both at once.