Suppose you carry out a significance test of H0: μ = 3.5 versus Ha: μ < 3.5 based on sample size n = 17 and obtain t = –3.4. Find the p-value for this test. What conclusion can you draw at the 5% significance level? Explain. (4 points)

Group of answer choices

The p-value is 0.4982. We reject H0 at the 5% significance level because the p-value 0.4982 is greater than 0.05.

The p-value is 0.0018. We reject H0 at the 5% significance level because the p-value 0.0018 is less than 0.05.

The p-value is 0.5018. We fail to reject H0 at the 5% significance level because the p-value 0.5018 is greater than 0.05.

The p-value is 0.4982. We fail to reject H0 at the 5% significance level because the p-value 0.4982 is greater than 0.05.

The p-value is 0.0018. We fail to reject H0 at the 5% significance level because the p-value 0.0018 is less than 0.05.