The bad debt ratio for a financial institution is defined to be the dollar value of loans defaulted divided by the total dollar value of all loans made. Suppose that a random sample of 7 Ohio banks is selected and that the bad debt ratios (written as percentages) for these banks are 7%, 9%, 9%, 9%, 9%, 6%, and 7%. Assuming that bad debt ratios for Ohio banks are approximately normally distributed, use critical values and the given sample information to test the hypotheses you set up in part a by setting α equal to .01. (Round your answers to 3 decimal places.)

t=
t0.01=