The price to earnings ratio (P/E) is an important tool in financial work. A random sample of 14 large U.S. banks (J. P. Morgan, Bank of America, and others) gave the following P/E ratios.

2416221412131722151923131118

The sample mean isx17.1.

Generally speaking, a low P/E ratio indicates a "value" or bargain stock. Suppose a recent copy of a magazine indicated that theP/E ratioof a certain stock index is=18.Letxbe a random variable representing theP/E ratioof all largeU.S. bankstocks. We assume thatxhas a normal distribution and=4.9.Do these data indicate that theP/E ratioof allU.S. bankstocks is less than18? Use=0.05.

Compute thezvalue of the sample test statistic. (Round your answer to two decimal places.)

(c) Find (or estimate) theP-value. (Round your answer to four decimal places.)