Given an assumed mean of 60, a standard deviation of 6, and a population with a sample size of 50 and a population mean of 62.6, I was able to set up two hypotheses,
H0, $\mu=60$
H1, $\mu \ne 60$
I was attempting to solve this problem by a z test, which yields a result of 3.06, how am I able to figure out if this result is significant, so that I can determine whether to accept or reject the null hypothesis?
A Z-score of 3.06 is extremely high, meaning that you are in the extrem right queue...you rejcect the hypothesis for almost any $\alpha$, being your pvalue very very low ($\approx 0.22\%$)
Usually there are two main steps of significance:
$5\%$, significant
$1\%$, high significant