USING EXCEL FORMULAS SOLVE THE PROBLEM. MUST USE EXCELCALCULATIONS AND FORMULAS.!!!

1. Find the data for the problem in the first worksheet namedLightbulbLife of the data table down below It gives the data on thelifetime in hours of a sample of 50 lightbulbs. The companymanufacturing these bulbs wants to know whether it can claim thatits lightbulbs typically last more than 1000 burning hours. So itdid a study.
   1. Identify the null and the alternate hypotheses for thisstudy.
   2. Can this lightbulb manufacturer claim at a significance levelof 5% that its lightbulbs typically last more than 1000 hours? Whatabout at 1%? Test your hypothesis using both, the critical valueapproach and the p-value approach. Clearly state yourconclusions.
   3. Under what situation would a Type-I error occur? What would bethe consequences of a Type-I error?
   4. Under what situation would a Type-II error occur? What would bethe consequences of a Type-II error?

lightbulb	Lifetime
1	840.08
2	960
3	953.38
4	981.14
5	938.66
6	1051.14
7	907.84
8	1000.1
9	1073.2
10	1150.66
11	1010.57
12	791.59
13	896.24
14	955.35
15	937.94
16	1113.18
17	1108.81
18	773.62
19	1038.43
20	1126.55
21	950.23
22	1038.19
23	1136.67
24	1031.55
25	1074.28
26	976.9
27	1046.3
28	986.54
29	1014.83
30	920.73
31	1083.41
32	873.59
33	902.92
34	1049.17
35	998.58
36	1010.89
37	1028.71
38	1049.92
39	1080.95
40	1026.41
41	958.95
42	985.17
43	988.49
44	1012.99
45	1070.82
46	1063.13
47	948.57
48	1156.42
49	973.79
50	845.85