A sample of 64 account balances from a credit company showed anaverage daily balance of $1,040. The standard deviation ofpopulation is known to be $200. We are interested indetermining if the mean of all account balances (i.e.population mean) is significantly different from $1000. a) developappropriate hypotheses for this problem. b) compute the teststatistic c) compute the p-value d) using the p-value approach at95% confidence, test the above hypotheses. e) using the criticalvalue approach at 95% confidence, test thehypotheses.  Thank you.