The average gasoline price of one of the major oil companies has been $4.00 per gallon. Because of shortages in production of crude oil, it is believed that there has been a significant DECREASE in the average price. In order to test this belief, we randomly selected a sample of 64 of the company's gas stations and determined that the average price for the stations in the sample was $3.94. Assume that the standard deviation of the population (?) is $0.16.

1. State the null and alternative hypotheses.

2. Test the claim at a = .05.

3. What is the p-value associated with the above sample results?