Question: Do students at your school study more, less, or about the same as at other business schools? Business Weekreported that at the top 50 business schools, students studiedan average of 14.6 hours (data extracted from"Cracking the Books," SPECIAL REPORT/Online Extra, www.businessweek.com, March 19, 2007). Set up ahypothesis test to try to prove that the mean number ofhours studied at your school is different from the 14.6 hour benchmark reported by Business Week.
a. State the null and alternative hypotheses.
b. What is a Type I error for your test?
c. What is a Type II error for your test?