Suppose you are testing the following hypotheses: H0: μ > 4000 Ha: μ < 4000 Sample size is 16. The sample mean is 3920 and the sample standard deviation is 200. The significance level is .01. Assume that the values in the population are normally distributed.
a. Compute the sample test statistic, t stat.
b. With the help of a statistical calculator or a statistical software package, determine the appropriate p value here and use it to conduct the test. (If you are using Excel, use the statistical function T. DIST to produce the appropriate p value.)
c. Based on your work in parts a and b, should you reject the null hypothesis? Explain.