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: μ ≥ 800 H_a: μ < 800.
B) H₀: μ = 800 H_a: μ ≠ 800.
C) H₀: μ > 800 H_a: μ ≤ 800.
D) H₀: μ < 800 H_a: μ ≥ 800.

Monthly Rent

The amount of money paid by a tenant to a landlord for the use of a property for a period of one month.

One-bedroom Apartments

Residential units featuring a single bedroom, typically including living spaces such as a living room, kitchen, and bathroom.

Real Estate Market

The market where properties are bought, sold, rented, and leased, involving both commercial and residential spaces.