For the given statement: The majority of college students have credit cards what is the null and alternative hypotheses.
The majority of students have a credit card could refer to the fact that more than half the students have a credit card. If a large number of students are selected randomly to determine if they have a credit card the mean number of students with a credit card is greater than 0.5 or `mu > 0.5`
The null hypothesis which refers to what is assumed to be true in this case is `H_0: mu > 0.5`
The alternative hypothesis refers to the condition that is not true. Here, the alternative hypothesis is `H_1: mu <= 0.5`