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Meaning the average run-time of a ryobi 40-volt battery is

Null Hypothesis:

Ho : u = 60 (minutes)

Meaning, the average run-time of a Ryobi 40-volt battery is 60 minutes.

Alternative Hypothesis:

Ha : u < 60 (minutes)

Meaning, the average run-time of a Ryobi 40-volt battery is less than 60 minutes.

Type I Error: If the population mean is actually equal to 60 minutes, then the run-time is less than 60 minutes.

Type II Error: If the population mean is actually less than 60 minutes, then the run-time is equal to 60 minutes.

Based on the above scenario what level of significance would you use and why?

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Finance Basics: Meaning the average run-time of a ryobi 40-volt battery is

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