Suppose an international corporation wishes to obtain its own benchmark for two-day travel ex-penses to Las Vegas. The firm records two-day travel expenses for a random sample of 50 execu-tives visiting Las Vegas. The mean of these expenses was found to be $1772 with a standard devi-ation of $343. A histogram shows that these expenses are normally distributed. Suppose an execu-tive submits an expense report for $2459. Required:
a. What method and formulas would you use to test whether this expense is unusually high?
b. Using the method clearly explained above, explain if this expense is unusually high.