According to a money report by a governmentinstitution, 18-to-20-year-old college students have an average credit card balance of $569. A researcher wants to find out if this number is lower now and collects data for a random sample of 40 college students. Their average credit card debt was found to be $541 with a sample standard deviation of $68.49. Complete parts a through c.

a. Using =0.05, does this sample provide enough evidence to conclude that the average credit card balance of18-to-20-year-old college students has decreased since2016?

Determine the null and alternative hypotheses.

Determine the appropriate critical value. Select the correct choice below and fill in the answer box within your choice.

Calculate the appropriate test statistic.

State the conclusion.

Does changing the value of

from

0.05 to 0.01 affect the conclusion? Why or why not?

Determine the precise p-value for this test using Excel.