Police reports and insurance claims indicate that the mean loss during a residential break-in is $1381. Actuaries working for Eagle Pacific Insurance Company need to check whether the mean loss has...

Police reports and insurance claims indicate that the mean loss during a residential break-in is $1381. Actuaries working for Eagle Pacific Insurance Company need to check whether the mean loss has changed during the past year in order to determine new policy rates. A random sample of 17 residential break-ins was obtained, and the loss due to each burglary was recorded. The sample mean loss (in dollars) was 1857 and the standard deviation was
 Assume the loss distribution is normal and use

a. Is there any evidence to suggest the true mean loss as a result of a residential break-in has changed?

b. Find bounds on the p value associated with this hypothesis test.

c. Carefully sketch a graph illustrating the p value and the value of the test statistic.