BUS - 173 (Applied Statistics) Determine if the following statements are True or False. If False, write the CORRECT statements: 1. Power of test = 1- Probability (Type Il error) 2. P- value is the...

Extracted text: BUS - 173 (Applied Statistics) Determine if the following statements are True or False. If False, write the CORRECT statements: 1. Power of test = 1- Probability (Type Il error) 2. P- value is the smallest level of significance at which one may wish to reject the null hypothesis. 3. To test if the mean number of hours spent for studying per week by IIT students is less than 40 hours. This is two - tailed test. 4. To test if the mean number of hours spent for studying per week by IIT students is greater than 40 hours. This is left - tailed test.