Hello Mr. Craig,
Thank you for the quick reply.
The site is hosted under a shared hosting plan and I do not have the option to change any IIS settings so that IIS can point to the correct file.
I ended up learning that I could modify the alias settings in the database. By looking under the Tabs table and the URLs column I could locate the part of the database which housed the wrong URL. Then just change it to the correct URL.
I also removed the associated alias located in the Alias table. However, this caused an error and prevented me from accessing the site.

After restoring a really old backup I spent the last few days rebuilding the lost content.
I did learn the answers to my two questions though:
1. If the site is hosted (changing IIS isn't an option) and being redirected to the incorrect alias (folder with no content) the setting for that can be changed in the database. I just got a bit over confident and changed to much. I'm really new at this.
2. I ended up redirecting the current incarnation of the site by creating a file in the www.mysite.com folder that redirects to the www.mysite.com/www folder.
Right now the file is really basic.
<script type="text/javascript"> <br /> window.location.href='http://www.mysite.com/www'; <br /> </script> <br /> </head> <br /> <body> <br /> This page has moved to <a href="http://www.mysite.com/www">http://www.mysite.com/www</a> <br /> </body> <br /> </html> <br /> <br /> I know this isn't the best way to do it. I've read online about using a 301 redirect. But I'm not really sure how to do it. I have some more reading to do. If you have any recommendations I would really appreciate it. <br /> <br /> Thank you for your help.