In the following five scenarios, H0, α, the obtained probability (p-value), and the true status of H0 are given. Assume that our test statistic follows a standard normal distribution. Do the following:
(a) State whether or not an error in statistical decision has been made (i.e., "Correct" or "Incorrect" decision) and (b) If an error is made, then state the type of error (i.e., is it a Type I or Type II error).
H0: µ = 0, α =0.05, for a two-tailed test. The obtained probability value is p=0.08. The actual status of H0 is true.