Question: During a recent year the average cost of making a movie was $54.8 million. This year, a random sample of sixteen recent action movies had an average production cost of $62.3 million with a variance of $90.25 million. At the \[\alpha =0.05\] level of significance, can it be concluded that the average cost to produce an action movie is different from the average cost of making a movie?

a.) State the null and alternative hypothesis

b.) Compute the test value.

c.) Find the critical value(s).

d.) Find the p-value.

e.) Make a decision to reject or not reject the null hypothesis. Justify your decision.

f.) Make a conclusion.

g.) Find the 99% confidence interval and interpret the result.