An accounting firm wishes to set a standard time required by employees to complete a certain audit operation. Times from 18 employees yield a

An accounting firm wishes to set a standard time μμ required by employees to complete a certain audit operation. Times from 18 employees yield a sample mean of 4.1 hours and a sample standard deviation of 1.6 hours.

Assuming a normal distribution for the population, find the p-value for the test H₀: μμ = 3.5 versus H₁: μμ ≠≠ 3.5, and your conclusions at 1% and 5% levels of significance