The loan manager for State Bank and Trust has claimed that the mean loan balance on outstanding loans at the bank is over $14,500.To test this at a significance level of 0.05,a random sample of n = 100 loan accounts is selected.Assuming that the population standard deviation is known to be $3,000,the null and alternative hypotheses to be tested are: .

Question

The loan manager for State Bank and Trust has claimed that the mean loan balance on outstanding loans at the bank is over $14,500.To test this at a significance level of 0.05,a random sample of n = 100 loan accounts is selected.Assuming that the population standard deviation is known to be $3,000,the null and alternative hypotheses to be tested are:  .

Quizplus · Accepted Answer

The null hypothesis would be H0: μ ≤ 14500 and the alternative hypothesis would be Ha: μ > 14500, as we are testing if the mean loan balance is over $14,500. Therefore, option A is true.

The Loan Manager for State Bank and Trust Has Claimed