1. The average monthly rent for one-bedroom apartments in Chattanooga has been $800. Because of the downturn in the real estate market, it is believed that there has been a decrease in the average rental. The correct hypotheses to be tested are

a.H₀: < 800 H_a: 800.

b.H₀: >800 H_a: 800.

c.H₀: = 800 H_a: 800.

d.H₀: 800 H_a: < 800.

2. The Bureau of Labor Statistics reported that the average yearly income of dentists in the year 2012 was $115,000. A sample of 150 dentists, which was taken in 2013, showed an average yearly income of $120,000. Assume the standard deviation of the population of dentists' incomes in 2012 is $32,000. We want to test and determine if there has been a significant increase in the average yearly income of dentists. Calculate the p-value to four decimals. There is a 5% level of significance. Answer = ?