Step 1 :The null hypothesis (H0) is that the mean (μ) is equal to 120.
Step 2 :The alternative hypothesis (H1) is that the mean (μ) is not equal to 120.
Step 3 :This suggests a two-tailed test because the alternative hypothesis is testing for a difference in either direction from the hypothesized mean, not specifically greater than or less than.
Step 4 :Therefore, the parameter being tested is the population mean (μ).
Step 5 :Final Answer: The hypothesis test is a \(\boxed{\text{Two-tailed test}}\) and the parameter being tested is the \(\boxed{\text{population mean (μ)}}\).