answer all questions with explanation

Question 1: 10 marks It's been observed that obesity among the US population is escalating at an alarming rate. One of the main forces behind this drastic increase in obesity is the widespread consumption of junk food. A group of researchers found that the teenagers of Texas city spend a little less than $48000 a week on Junk food. A random sample of 700 teenagers of Texas city have been taken for an experiment where their mean expenditure is $55000 with a standard deviation of $7500. Does the sample information provide enough evidence that at 99% confidence level, the weekly expenditure of the teenagers of Texas city on junk food is more than $48000? A. Use both the P-value approach and critical value approach to draw the conclusion. (Draw rejection and non rejection region for both the approaches) B. How Type 1 error, Type 2 error and four possible outcomes for the Hypothesis testing can be incorporated in the above