On the hypothesis testing questions you must use the five-step process outlined in Section 9.4 in our text. Make sure you make a statement at the end of each hypothesis test about the result of your test.

Hypothesis Testing (One Sample -- mean)

5.a) The Canadian Tire store chain issues its own credit card. The credit manager wants to find whether the mean monthly unpaid balance is more than $380. A random check of 52 unpaid balances revealed the sample mean to be $388 and the standard deviation is $35. Using hypothesis testing, can the credit manager conclude the population mean is more than $380 at the 0.01 significance level?

b)After completing the hypothesis test, calculate the p-value and compare this to the level of significance, what can you conclude?