Suppose a bank that issues credit cards claims that its customers’ average annual spending per active account is $6,920. An analysis of a random sample of credit card accounts provided the data on annual spending. This sample is in the file labeled ASpending.

a. Conduct a hypothesis test to determine if the average annual spending per active account actually exceeds the $6,920 value. Use a p value approach and a significance level of 0.025.
b. If the annual spending per active account is actually normally distributed with a mean of $5,560 and a standard deviation of $1,140, determine the probability that a randomly chosen account would have an annual spending larger than $6,920.