Find what is the p-value of the test

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Problem 1: The Employment and Training Administration reported that the U.S. mean unemployment insurance benefit was $346 per week (The World Almanac, 2003). A researcher in the state of Virginia anticipated that sample data would show evidence that the mean weekly unemployment insurance benefit in Virginia was below the national average. Test the appropriate hypotheses using a 5% significance level assuming that a sample of 100 individuals had a sample mean of $331 and a sample standard deviation of $78. What is the p-value of this test? What is your conclusion?

Reference no: EM132796645

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