The Insurance Institute for Highway Safety conducted tests with crashes of new cars traveling at 6 mi h. The total cost of the damage was found. Results are listed below for a simple random sample of the tested cars. Use a 0.05 significance level to test the claim that when tested under the same standard conditions, the damage costs for the population of cars has a mean of $5000.

$7448   $4911   $9051   $6374   $4277

Assume that a simple random sample has been selected from a normally distributed population and test the given claim. Unless specified by your instructor, use either the traditional method or P-value method for testing hypotheses. Identify the null and alternative hypotheses, test statistic, P-value (or range of P-values), critical value(s), and state the final conclusion that addresses the original claim.