Explain interpret the meaning of the p-value in this problem, Operation Management

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Initially, the mean turnaround time for a stress test was 68 hours. After incorporating changes into the stress-test process, the quality improvement team collected a sample of 50 turnaround times. In this sample, the mean turnaround time was 32 hours, with a standard deviation of 9 hours.

a. If you test the null hypothesis at the 0.01 level of significance, is there evidence that the new process has reduced turnaround time?

b. Interpret the meaning of the p-value in this problem


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