Conduct a full hypothesis test

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A sample of 22 account balances of a credit company showed a mean customer balance of $4,300, but the marketing manager claimed that the mean balance for the population was $4450. The marketing manager did NOT have the population standard deviation, but the sample standard deviation was found to be $400. Use the p-value approach to conduct a full hypothesis test(all steps) that can be used to determine whether the mean of all account balances is significantly different from $4440. Let α = .05.

Reference no: EM132834367

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