The mortgage department of a large bank is interested in the nature of loans of first-time borrowers. This information will be used to tailor their marketing strategy. They believe that more than 50% of first-time borrowers take out smaller loans than other borrowers. To support their belief, they sample 100 first-time borrowers and find 53 of these loans are smaller than those of non-first-time borrowers. For the hypothesis test, they choose a 5% level of significance. What should the Ha be?
Question 8 options:
a)
µ ≥ 50
b)
p ≤ 0.50
c)
p ≤ 50
d)
p > 0.50