Answer:
The null hypothesis is

The alternate hypothesis is

Explanation:
To investigate this further, the economist would like to test the claim that the percent of thirty-year fixed-rate mortgage loans that have a 4.75 percent interest rate is less than 22%.
At the null hypothesis, we test that the proportion is of 22%, that is:

At the alternate hypothesis, we test that the proportion is less than 22%, that is:
