A lab researcher wants to see if Substance X improves or cures COVID-19. They test a random sample of individuals who have COVID-19 in a randomized control trial. Some of the individuals participating are assigned to the control group who receive a placebo, while other participants are assigned to the treatment group receiving Substance X. By doing this, they aim to see if Substance X will improve or cure COVID-19 for this sample.
What is the null hypothesis?
What would the type 1 and type 2 error results be?
Which type of error would have more serious consequences in this case and why?