Mathematics, 17.11.2020 22:00, kimvigil4580

Several years ago, a government agency reported the default rate (the proportion of borrowers who default on their loans) on a certain type of loan at 0.035. Set up the null and alternative hypotheses to determine if the default rate this year is less than 0.035. What are the correct null and alternative hypotheses to test the claim that the default rate is less this year?

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