Suppose a new production method will be implemented if a hypothesis test supports the conclusion that the new method reduces the mean operating cost per hour. a. State the appropriate null and...

Extracted text: Suppose a new production method will be implemented if a hypothesis test supports the conclusion that the new method reduces the mean operating cost per hour. a. State the appropriate null and alternative hypotheses if the mean cost for the current production method is $225 per hour. Ho: Select your answer 225 H. Calect your answer- 225 lot Answered D: WlacTS Tne Type I error in this situation? Claiming -Select your answer v225 when the new method Select your answer - V lower costs. What are the consequences of making this error? A mistake could be implementing the method when it Select your answer v help. c. What is the Type II error in this situation? Claiming # Select your answer v 225 when the new method Select your answer- v | lower costs. What are the consequences of making this error? This could lead to not implementing a method that Séléct your answer -V lower costs. 0=Icon Key Exercise 09.08 Algo (Type I and Type II Errors) a hp 12 ho f7 +1 15 10 & %23 %24