Cubase LE5 W/Lexicon Alpha DAI

When I play back audio I can vaguely hear it in the background, mostly all I hear is a lot of static/noise in my headphones. I’ve gone to Devices–>Device Setup and set the Lexicon Alpha as my ASIO driver. I’ve also gone to Devices -->VST Connections and set the Lexicon Alpha as the in/output device. What have I done wrong and how do I correct it?