Q5) A recent report shows that the industry mean for a certain surgical operation is $2,500. The actual prices vary from patient to patient depending on his weight and the amount of anesthesia required. A sample of 20 patients undergoing the operation from Beauty Asia Hospital shows a mean price $2,680 and standard deviation of $340. It is assumed that the price of the operation is normally distributed.

Conduct an appropriate hypothesis test at 5% level of significance. Is there evidence that the mean price of the operation for Beauty Asia Hospital is higher than the industry norm?