Use the t-distribution and the sample results to complete the test of the hypotheses. Use a 5 % significance level. Assume the results come from a random sample, and if the sample size is small, assume the underlying distribution is relatively normal.
Test H0 : μ = 500 vs Ha : μ ≠ 500 using the sample results x̄ = 432, s = 118, with n = 75.
(a) Give the test statistic and the p-value.
Round your answer for the test statistic to two decimal places and your answer for the p-value to three decimal places.
test statistic =
p-value =
(b) What is the conclusion?
Reject H0.
Do not reject H0.