Correct pair of hypotheses

Reference no: EM1321265

Find the Null and alternate hypothesis from the following problem.

An independent financial advisor claims an average rate of return, μ, on a particular investment is at least 7%. In testing her claim, the correct pair of hypotheses is:

(1) H₀: μ < 7%, H₁: μ ≥ 7%

(2) H₀: μ ≤ 7%, H₁: μ ≥ 7%

(3) H₀: μ ≥ 7%, H₁: μ ≤ 7%

(4) H₀: μ ≥ 7%, H₁: μ < 7%

(5) H: μ > 7%, H: μ ≤ 7%

Reference no: EM1321265

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