If a hypothesis test is significant at level α = 0.05, then what is known for the P-value? P-value > 0.01 P-value ≤ 0.05 P-value ≤ 0.01 P-value > 0.05 Suppose the time that it takes a certain large bank to approve a home loan is Normally distributed with mean (in days) μ and standard deviation σ = 1. The bank advertises that it approve loans in 5 days, on average, but measurements on a random sample of 500 loan applications to this bank gave a mean approval time of = 5.3 days. Is this evidence that the mean time to approval is actually longer than advertised? To answer this, test the hypotheses H0: μ = 5, Ha: μ > 5 at significance level α = 0.01. You conclude that: H0 should not be rejected. there is a 5% chance that the null hypothesis is true. Ha should be rejected. H0 should be rejected.