A professor of linguistics refutes the claim that the average student spends 3 hours studying for the midterm exam.She thinks they spend more time than that.Which hypotheses are used to test the claim?

A) H₀: μ = 3 vs.H₁: μ > 3
B) H₀: μ = 3 vs.H₁: μ ≠ 3
C) H₀: μ ≠ 3 vs.H₁: μ = 3
D) H₀: μ = 3 vs.H₁: μ < 3

Determine the unknown value for the following deferred annuity. The annuity is understood to be an ordinary annuity after the period of deferral.