Null Hypothesis: mean = 50000
Alternate Hypothesis: mean != 50000
this is a two sided test for a single mean. Since the population standard deviation is know we can use the z-statistic:
z = (sample mean - population mean)/(population standard deviation/square root(sample size)) =
(45000-50000)/(8000/sqrt(33)) = -3.59
since a two-sided test
p-value = P(z > 3.59) + P(z < -3.59)
since normal distribution is symmetric: p-value = 2*P(z < -3.59) = 2 * 0.0002 = 0.0004.
p-value is the lowest value of alpha at which you can reject the null hypothesis. since p-value is less than 0.0004 we can reject the null hypothesis.