The International Bank claims that the average income per capita in bottom 40% is 2.77. In a random sample of 15 countries, the sample mean was 4.57and the standard deviation was 3.50. Is there enough evidence to support the claim at alpha= 0.05?

Follow the necessary steps:

Step 1: State the null and alternative hypotheses

Step 2: Choose the level of significance, type of test, and sample size

Step 3: Identify the critical value of the test statistic

Step 4: Determine the rejection region. (show figure)

Step 5: Calculate the standardized test statistic

Step 6: State the Decision Rule. (Using the standardized & critical values, and using the p- value)

Step 7: Interpretation

Note: Use One Sample Hypothesis Testing. Please don't skip any necessary steps and show the figure of the rejected region. Thank you!