The Graduate Management Admission Test (GMAT) is taken by individuals interested in pursuing graduate management education. GMAT scores are used as part of the admissions process for more than 6100 graduate management programs worldwide. The mean sore for all test‑takers is 550 with a standard deviation of 120. A researcher in the Philippines is concerned about the performance of undergraduates in the Philippines on the GMAT. She believes that the mean scores for this year's college seniors in the Philippines who are interested in pursuing graduate management education will be less than 550. She has a random sample of 250 college seniors in the Philippines interested in pursuing graduate management education who plan to take the GMAT. Suppose we know that GMAT scores are Normally distributed with standard deviation σ=120. The null and alternative hypotheses are H0:µ=550 versus Ha:µ<550. Required:
State the null and alternative hypotheses for the study of the performance on the GMAT of college seniors in the Philippines.