The Average Monthly Rent for One-Bedroom Apartments in Chattanooga Has

The average monthly rent for one-bedroom apartments in Chattanooga has been $700.Because of the downturn in the real estate market, it is believed that there has been a decrease in the average rental.The correct hypotheses to be tested are

A) H₀: μ ≥ 700 H_a: μ < 700.
B) H₀: μ = 700 H_a: μ ≠ 700.
C) H₀: μ > 700 H_a: μ ≤ 700.
D) H₀: μ < 700 H_a: μ ≥ 700.

Correct Answer:

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