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An engineering firm is evaluating their back charges. They originally believed their average back charge was $1800. They are concerned that the true average is higher, which could hurt their quarterly earnings. They randomly select 40 customers, and find out the corresponding sample mean back charge to be $1950. If the standard deviation of back charges is $500, and alpha = 0.05, should the engineering firm be concerned? Perform an appropriate hypothesis test, showing the necessary calculations and/or describeing the process used to obtain the results

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Category:- Statistics and Probability
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