A Test of H₀ $\mu$ =55 Versus H₁ $\mu \neq$ 55 Is Performed Using a Significance Level Of

question 43

Multiple Choice

A test of H₀: $\mu$ =55 versus H₁: $\mu \neq$ 55 is performed using a significance level of $\alpha$ :=0.05 . The P-value is 0.048 .
If the true value of $\mu$ : is 59 , does the conclusion result in a Type I error, a Type II error, or a correct decision?

• A) Type I error
• B) Type II error
• C) Correct decision

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The total amount of interest expenses a borrower has paid over a certain period to lenders for the use of borrowed funds.

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