The average monthly rent for one-bedroom apartments in Chattanooga has been $700. 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: m = 700 Ha: m < 700

b. H0: m = 700 Ha: m ¹ 700

c. H0: m > 700 Ha: m £700

d. H0: m < 700 Ha: m ³ 700