A single observation of a random variable having an exponential distribution is used to test the null hypothesis that the mean of the distribution is 2 against the alternative that it is 5 If the null hypothesis is accepted if and only if the observed value of the random variable is less than 3, fi...

A single observation of a random variable having an exponential distribution is used to test the null

Question:

A single observation of a random variable having an exponential is used to test the null hypothesis that the mean of the is θ = 2 against the alternative that it is θ = 5. If the null hypothesis is accepted if and only if the observed value of the random variable is less than 3, find the probabilities of type I and type II errors.
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...