Pharmaceutical companies spend billions of dollars per year on research and development of new drugs. the pharmaceutical company must subject each new drug to lengthy and involved testing before receiving the necessary permission from the food and drug administration (fda) to market the drug. the fda's policy is that the pharmaceutical company must provide substantial evidence that a new drug is safe prior to receiving fda approval, so that the fda can confidently certify the safety of the drug to potential consumers. use this information to complete parts a through c below. a. if the new drug testing were to be placed in a test of hypothesis framework, would the null hypothesis be that the drug is safe or unsafe? the alternative hypothesis? the null hypothesis would be that the drug is not safe and the altenative hypothesis would be that the drug is safe. b. given the choice of null and alternative hypotheses in part a, describe type l and type ii errors in terms of this application. define α and β n terms o this application. the type il error for tis problem would be to conclude that the dnug is when the drug is actualy the type l eror for tis problem would be to conclude that the dnugils v when the drug is actually v the type ll error for this problem would be to conclude that the drug is when the drug is actually in this application α is the probability of concluding that a drug ▼ safe when actually it ▼ safe and β is the probability of concluding that a drug ▼ safe when the drug actually ▼ safe