Question 1177343
This is a t-test with alpha=0.01 p{reject Ho|Ho true)
the critical value is t (0.995, df=12) with a critical value of |t|>3.055
t=( x bar-mean)/s/sart(n)
=(31000-34400)/4600/sqrt(13)
=-3400*sqrt(13)/4600
=-2.665
fail to reject Ho and conclude insufficient evidence that the mean is different from $34,400.
p-value=0.021