Small businesses are viewed by many as the backbone of the U.S. economy. Small-business owners are often described as entrepreneurs, requiring a variety of skills in order to be successful. According to the 2016 Babson College’s State of Small Business study, the average small business owner is a little over 50 at 51.7 years of age. Suppose the Small Business Administration (SBA), which is a government agency that provides support to small businesses, would like to test the hypothesis that the average age of such business owners is now greater than 55 years. The Excel file labeled SBA.xlsx shows the ages of a recent sample of 100 small-business owners. Using α = 0.05, answer the following:

a. Perform a hypothesis test to determine if the average age of a small-business owner exceeds 55 years.

b. Determine the precise p-value for this test using Excel.