5. The researcher would like to test the hypothesis that the average monthly wage for recent college graduates is less than $2000. A random sample of 17 recent college graduates averaged $2100 per month with a standard deviation of $350.50 per month. Test the researcher's claim using a = 0.05 that the average monthly wage of college graduates is more than $2000. Answer the following questions.

a. Identify the claim and state the Ho and HI. (1 Mark)

b. Find the critical value. (1 Mark)

c. Calculate the test statistic. (1 Mark)

d. Make a decision to reject or fail to reject the Ho. (1 Mark)

e. Interpret the decision in the context of the original claim. (1 Mark)