Share with your peers the null and alternative hypotheses for a decision that is relevant to your life. This can be a personal item or something at work. Define the population parameter, the appropriate test statistic formula, and if it is a one- or two-tailed test. Be sure to set up your hypotheses, too.

The two population parameters that we cover this week are:

: the population mean

and

p: the population proportion

Be sure to include numerical values for your variables. Additionally, identify the Type I and Type II Errors that could occur with your decisionmaking process.