The one-sided p-value is \(1-\Phi(1.7)=0.0446<0.05\) and the two-sided one is double, \(0.0891>0.05\). The choice of \(H_1\) must be made before seeing the data.
The \(p\)-value is the probability \(P\), computed assuming the null hypothesis \(H_0\) is true, of obtaining a result at least as extreme as the one observed.
\[p=P\big(\text{result at least as extreme}\mid H_0\big)\]