A company states that its lightbulb lasts hours on average. A customer association would like to test this hypothesis at the 5% level.

a) What is the parameter that the association wants to test?

b) Note; what's the hypothesis that the association is looking to test?

c) What does the type I error mean in this example?

d) What does the type II error mean in this example?

e) How do you interpret the significance level: 5%