paid after the grace period, on average, more than 4 times in 2018, what are the null and alternative hypotheses? Select the correct answer below: H0: μ=4; Ha: μ>4 H0: μ>4; Ha: μ=4 H0: μ=4; Ha: μ<4 H0: μ=4; Ha: μ≠4

H₀: μ = 4 vs. H ₐ: μ > 4

Step-by-step explanation:

A null hypothesis is a sort of hypothesis used in statistics that intends that no statistical significance exists in a set of given observations.  

It is a hypothesis of no difference.

It is typically the hypothesis a scientist or experimenter will attempt to refute or discard. It is denoted by H₀.

Whereas, the alternate hypothesis is the contradicting statement to the null hypothesis.

The alternate hypothesis describes direction of the hypothesis test, i.e. if the test is left tailed, right tailed or two tailed.

It is also known as the research hypothesis and is denoted by H ₐ.

In this case we need to test whether the amount is paid after the grace period, on average, more than 4 times in 2018.

The hypothesis can be defined as follows:

H₀: μ = 4 vs. H ₐ: μ > 4

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