OK, first up I am an amateur trying to expand my knowledge so I can make better music.

I'm currently working on a song which I'd link to speed up at the end. My idea is that the song will start out at 98 BPM and speed up to 120 BPM (or maybe a little faster) for roughly the last third of the song. Currently the 98 BPM section is in 4/4 time (S1 default, and just haven't changed it and not sure if I should or not).

Question 1: Can Studio One Pro 2.6 do the speed up to 120 BPM within one song?
Or, should I make them seperate and use the project page to make the play without the normal 2 second space in between the songs?

Question 2: Will I need to change the time signature to something like 6/8 (guessing here) to achieve this?

Question 3: Is there some formula to figure the time signature on a speed up like this?

Question 4: Could someone explain to me how BPM and time signatures are related?
(i.e. - would a 4/4 time at 120 BPM sound similar to 8/8 time at 60 BPM (again, I'm guessing here))

I think my understanding of BPM is pretty solid, 98 BPM = 98 Beats within a 1 minute span, please correct me if I am wrong here. Time signatures are a little more grey to me, so maybe someone could explain those to me a little more and maybe even answer my questions in the process. If someone knows a good book or website where I may find the answers, then that will also suffice.

Thanks in advance for any help anyone can offer.