1. In each of the following situations, formulate the null and alternative hypotheses.

a. A new product will be introduced if it is preferred by more than 70 percent of the consumers in the target market.

b. A new commercial will be aired if the average preference for it exceeds 5.8 on a 7-point scale.

c. A company will start selling its products online if more than 55 percent of the consumers express a preference for online purchasing.

d. The average price of a pair of jeans available in the marketplace exceeds $45.

e. Less than 40 percent of the people approve of the job that President Obama is doing.

f. The mean familiarity with banks is different from 4.0 on a 7-point scale.