Discussion:
Q: For the following problem statement, identify the hypothesis H0 and the alternative hypotheses H1.
Suppose that a company claims that their weekly losses are no more than $2,500. A sample of 40 random weeks finds a mean weekly loss of $3,200 with an estimated population standard deviation of $750. Test their claim at the a=0.05 level.
H0: (μ, σ,or p),( ≠,≤,≥,<, or =), ($3,200, $2,500, 40, 0.05, 750)
H1: (μ, σ,or p),( ≠,≤,≥,<, or =), ($3,200, $2,500, 40, 0.05, 750)