The mean operating cost per hour for the current production method at S-E Electronics equals $220. A new production method will be implemented if a hypothesis test based on sample data suggests the new method reduces (v. the current method) the mean operating cost per hour. a) State the null and alternative hypotheses associated with the test. (0.5 pt) b) What is the Type I Error for the test and what are the business consequences of a Type I Error? (SHOW WORK for CREDIT; 0.5 pt)