A recent survey indicated that average amount spent for breakfast by business managers was $7.58 with a population standard deviation of $0.42. It was felt that breakfasts on the West Coast were higher than $7.58. A sample of 30 business managers on the West Coast had an average breakfast cost of $7.65. At the .05 significance level, is the price of breakfasts on the West Coast significantly higher?
a) State the hypotheses and identify the claim
b) Find the critical values
c) Compute the test values
d) Make the decision
e) Summarize the result