TO BE DONE WITHOUT THE USE OF EXCEL FUNCTIONS***

***ROUGH WORK MUST BE SHOWN TO RECEIVE CREDIT****

A manager at a Credit Union claims that the average total weekend withdrawal from a cash machine is $7,500. Head office is concerned that this estimate is too low.A random sample of total withdrawals on 36 weekends resulted in a sample mean of $8,600 and sample standard deviation of $3,700.At a 2% level of significance, can you conclude the average withdrawal should be greater than $7,500?

a) Properly state the hypotheses:(1 mark)

b) Calculate the p-value (SHOW ALL WORK):(3 marks)

c) Conclusion:(Must be mathematically justified)(1 mark)