I used to think maths was my strong point, however we've been doing statistics at school recently and I am useless at it.
I have a question which asks me to calculate the type 1 & 2 error for a question with the following data:
I know the definitions of type 1 and 2 errors, just have no idea how to work them out
Reported probability of success: 0.55
Sample size: 30
Significance level of test: 5%
For the calculating type 2 error question it says that the actual probability of success is 0.6
Any help will be really appreciated, this section of maths has really made me prefer economics
EDIT: After an incredibly painful ordeal I have managed to get the same answer for the probability of a Type 1 error as in the back of the book. Now onto type 2...