According to the government lending institution Sallie Mae, students graduating from college have an average credit card debt of $ 4,100. A random sample of 50 graduating seniors was selected, and their average credit card debt was found to be $ 4,360. Assume the standard deviation for student credit card debt is $ 1,200. Using σ = 0.05, answer the following questions:

a. Does this sample provide enough evidence to challenge the findings by Sallie Mae?

b. Determine the p value for this test.

c. Verify your results using PHStat.