In the situation below, describe what it means in that context to make a Type I and Type II error.
Testing to see if a well-known company is lying in its advertising. If there is evidence that the company is lying, the Federal Trade Commission will file a lawsuit against them.
Making a Type I error means:
* Sue the company when they are not lying.
* All well known companies are lying on their advertising.
* Let the company off the hook.
* Let the company off the hook, when they are actually lying in their advertising.
* Sue the company for lying in its advertising.
* All well known companies are not lying on their advertising.