Answer
We reject the Null hypothesis in favor of the Alternative Hypothesis.
Work Step by Step
Here we have $H_{o}$: μ = 501, $H_{1}$: μ< 501, n = 100, x̅ = 485, s = 116 and α = 0.10
Using the Classical approach:
Using Table VI, we have: t = 1.291
$σ_{ x̅} = \frac{s}{\sqrt n} = \frac{116}{\sqrt 100} = 11.6$
$t = \frac{485-501}{11.6} = -1.379$
Since, -1.291 > -1.379, we will reject the Null hypothesis.
