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There are many factors that contribute to this difference and most importantly, we need to know what we are looking at among industries, for example, gross production, revenue, interest, etc.
At lower p value, we are more confident at rejecting null hypothesis. At alpha=0.01, null hypothesis is more likely to be rejected than alpha = 0.1
Type I error is more likely to occur when the significance level rises. Type I error is the error made when p value is low, we reject null hypothesis, which may not be rejectable if p level rises.
To reduce error: increase the sample sizePlease let me know if you need any clarification. I'm always happy to answer your questions.
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