Calculate the p-value from a given z-test statistic.

Cate randomly samples the out-of-state tuition and fees for 25 public universities and found a mean of $20,340 with a standard deviation of $2,494. Using the alternative hypothesis that < $21,706, Cate found a z test statistic of -2.74.

Given the data provided, what is the p-value of the z-test statistic? Answer choices are rounded to the thousandths place.

• a.)0.997
• b.)0.003
• c.)0.994
• d.)0.006