In 2007 the US Census Bureau reported that 71.3% of American families owned their homes. The city council is debating on whether to offer tax breaks to first time

homebuyers, but they only want to do so if there is strong evidence that the rate of

home ownership has increased since 2007 since it will cost the city money to do so.

a) Describe a Type I error in context along with the consequence.

c) Describe a Type Il error in context along with the consequence.