An analyst is conducting a hypothesis test to determine if the mean time spent on investment research is different from 3 hours per day. The test is performed at the 1% level of significance and uses...

An analyst is conducting a hypothesis test to determine if the mean time spent on investment research is different from 3 hours per day. The test is performed at the 1% level of significance and uses a random sample of 64 portfolio managers. where the mean time spent on research is found to be 2.7 hours. The population standard deviation is 1.5 hours. What is the value of the test statistic in this case?