A pharmaceutical company conducts a clinical trial to test the efficacy of a new drug for lowering blood pressure. They aim to determine whether the drug is more effective than the current standard treatment. The researchers set the significance level at = 0.05. What is the consequence of committing a Type I error in this scenario? Question 45 options: The new drug is incorrectly deemed effective when it is not. The new drug is incorrectly deemed ineffective when it is effective. The standard treatment is incorrectly deemed effective when it is not. The standard treatment is incorrectly deemed ineffective when it is effective