According to the analysis of Federal Reserve statistics and other government data, American households with credit card debts owed an average of $15,706 on their credit cards in August 2015 (www.nerdwallet.com). A recent random sample of 500 American households with credit card debts produced a mean credit card debt of $16,377 with a standard deviation of $3800. Do these data provide significant evidence at a 1% significance level to conclude that the current mean credit card debt of American households with credit card debts is higher than $15,706? Use both the p-value approach and the critical-value approach.