1. Consider the following non-mathematical situation as a hypothesis test. You received a parachute that was inspected by an inspector whose null hypothesis is "this parachute will open". a. Carefully state the meaning of the four possible outcomes in decision making. b. Describe the seriousness of the type I error and the type II error. c. If the type I error and the type II error could be controlled statistically, which set of probabilities would you prefer to be used if you were going to use the parachute? Explain your reasoning. α= 0.001 and β=0.10 α= 0.05 and β=0.05 α= 0.10 and β=0.001

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