Most small business collapsed (or failed) before reaching 5 years of operation. Using Hypothesis Testing, state the following:

(a) Develop the claim - the hypothesis

(b) Develop your H0 and H1.

(c) Which test statistic are you going to use?

(d) What information will you need to make the decision - either to accept or reject the claim?

(e) What is the difference between a critical approach and a p-value approach?