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Statistics, Left-tail Hypothesis test using t-statistic

Question
The average IQ of a group of researchers is quoted to be 260. Thinking that this figure is too large, consulting firm tested a random sample of 8 researchers and found that the average IQ was 250 with s=8. Test at a level of significance of 1%.

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Null Hypothesis: H0 : µ = 260 and that the average IQ of the population is ...

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The detailed step by step solution is given to the posted problem. The solution is explained with every minute detail so that the student could use this solution as a model to solve other problems of the same model.

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