The mean annual starting salaries for college graduates with a degree in Operations Management was $65,000. We would like to determine whether or not this has decreased this year due to the pandemic. Data were collected over the annual starting salaries from a random sample of 40 Operations Management graduates. The average salary is $63,500 in the sample. Assume the standard deviation for the population of annual salaries is $3500. Let mu denote the average annual starting salaries among all Operations Management graduates this year. Use this information to answer questions 1 to 2.

1.The appropriate hypotheses to test are:

H subscript 0 colon mu equals 65000 space space v s. space space H subscript a colon mu not equal to 65000

H subscript 0 colon mu greater or equal than 65000 space space v s. space space H subscript a colon mu less than 65000

H subscript 0 colon space mu less or equal than 65000 space space v s. space space H subscript a colon mu greater than 65000

H subscript 0 colon mu less than 65000 space space space v s. space space H subscript a colon space mu greater or equal than 65000

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2.What is the value of the appropriate test statistic?

-2.711

-0.429

2.711

0.429