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Design a hypothesis test of whether or not the mean willingness to pay for the product is different for men and women. Which, if any, is more important to minimize in this case, the type I or type II error? Why?

a) Design a hypothesis test of whether or not the mean willingness to pay for the product is different for men and women.
b) Which, if any, is more important to minimize in this case, the type I or type II error? Why?
c) How does the choice of the critical value affect the trade-off between the type I and type II error?

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