Suppose that you are considering whether to publish a weekly alternative newspaper on campus. You decide to survey a random sample of students on your campus to ask if they would be likely to read such a newspaper. Your plan is to proceed with publication only if the sample data provide strong evidence that more than 10% of all students on your campus would be likely to read such a newspaper.
a. Identify the parameter of interest, in words.
b. Express the appropriate null and alternative hypotheses for conducting this test.
c. Specify what Type I error represents in this situation. Also indicate a potential consequence of Type I error.
d. Specify what Type II error represents in this situation. Also indicate a potential consequence of Type II error.