Question: Assume that a simple random sample is selected from a normally distributed population. Use either the P value method or traditional method of testing hypotheses.

In an analysis investigating usefulness of pennies, the cents portions of 100 randomly selected credit card charges are recorded, and they have a mean of 47.6 cents and a standard deviation of 33.5 cents. If the amounts from 0 cents to 99 cents are all equally likely, the mean is expected to be 49.5 cents and the population standard deviation is expected to be 28.866 cents. Use a 0.01 significance level to test the claim that the sample is from a population with a standard deviation equal to 28.866 cents. If the amounts from 0 cents to 99 cents are all equally likely, is the requirement of normal distribution satisfied? If not, how does that effect the conclusion?