According to the Democrat & Chronicle article

“Millions forfeited in health accounts” (December 26, 2004), an estimated $210 million is forfeited each year because employees do not use all of the money that they contributed to their medical flexible spending accounts. The average amount put into these accounts annually is about $1000.

Suppose a random sample of 150 employees at a local business was taken in 2005 and an average amount of $925 was deposited into their flexible spending accounts. Test the hypothesis that there was no significant change in average flexible spending amounts despite the millions of dollars forfeited.

Assume that   $307 per year. Use   0.05.

a. Define the parameter.

b. State the null and alternative hypotheses.

c. Specify the hypothesis test criteria.

d. Present the sample evidence.

e. Find the probability distribution information.

f. Determine the results.