Hello,

I have been trying to solve this problem and can't seem to know the correct hypothesis testing equations to use, and my numbers aren't lining up correctly. If I could please get some help to solve this problem it would be appreciated. I know the five steps that are needed to answer the problem, it's just I am unsure of the correct equations to use.

A new process for producing synthetic diamonds can be operated at a profitable level only if the average weight of the diamonds produced by the process is greater than 0.5 karat. To evaluate the profitability of the process, a random sample of seven diamonds produced by the new process was collected. The recorded weights of these diamonds were:0.46, 0.61, 0.52, 0.48, 0.57, 0.53, and 0.54 karat. Do these measurements present sufficient evidence to indicate that the average weight of the diamonds produced by the new process is in excess of 0.5 karat? To answer this questionconduct an appropriate test of hypothesis using a significance level of 0.05and applying the five step process. Remember to calculate the P value of the test, and interpret its value.