There are two boxes, each with several million tickets marked “1” or “0”. The two boxes have the same number of tickets, but in one of the boxes, 49% of the tickets are marked “1” and in the other box 50.5% of the tickets are marked “1”. Someone hands me one of the boxes but doesn’t tell me which box it is.
Consider the following hypotheses:
Null: p = 0.49 Alternative: p = 0.505
1. The significance level of my test is _____%.
2. The power of my test is _____%.

Question

There are two boxes, each with several million tickets marked “1” or “0”. The two boxes have the same number of tickets, but in one of the boxes, 49% of the tickets are marked “1” and in the other box 50.5% of the tickets are marked “1”. Someone hands me one of the boxes but doesn’t tell me which box it is.
Consider the following hypotheses:
Null: p = 0.49              Alternative: p = 0.505
 1. The significance level of my test is _____%. 
2. The power of my test is _____%.