Assignment:
The developer of a new welding rod claims that spot welds using his product will have greater strength than conventional welds. For 45 welds using the new rod, the average tensile strength is 23,500 pounds per square inch, with a standard deviation of 600 pounds. For 40 conventional welds on the same materials, the average tensile strength is 23,140 pounds per square inch, with a standard deviation of 750 pounds. Use the 0.01 level in testing the claim of superiority for the new rod. Using the appropriate statistical table, what is the approximate p-value for this test?
Provide complete and step by step solution for the question and show calculations and use formulas.