Question: A test of H0: = 50 versus H1: 50 is performed using a significance level of = 0.01. The value of

A test of H0: μ = 50 versus H1: μ ≠ 50 is performed using a significance level of α = 0.01. The value of the test statistic is z = 1.23.

a. Is H0 rejected?

b. If the true value of μ is 50, is the result a Type I error, a Type II error, or a correct decision?

c. If the true value of μ is 65, is the result a Type I error, a Type II error, or a correct decision?

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