A corporate finance managerwould like to test the claim that the average percent of a company's budget spent on overhead expensesis less than 25 percent.To test this claim, at the 5% significance level,the corporate finance manager collects the following data on a sample of 40

companies and records the percent of their budget spent on overhead expenses.The following is the data from this study:

Sample size =40

companies

Sample mean =23 percent

From past data, it is known that the population standard deviation is 4.44

percent.

Identify the null and alternative hypothesis for this study by fillingin the blanks with the correct symbol (=,,<, or > to represent the correct hypothesis.)

Provide your answer below:

null hypothesis : M __ 25

alternative hypothesis : M __ 25