Work through this hypothesis test using the prompts below. In other words, finish the sentences I have started.

A sample of 196 account balances of credit company showed a mean of customer balance of $1927, but the marketing manager claimed that the mean balance for the population was $1864. The marketing manager had the population standard deviation, and it was $74. 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 greater than $1864. Let= .05.

To help you go through the steps of hypothesis testing, follow these prompts:

The null hypothesis is

The alternative hypothesis is

This test is (choose 1: one-tailed / two-tailed) because the last sentence contains the words (choose 1: greater than/ less than / different from).

I will use a (choose 1: t/z) in my formula because

I have calculated the value of t (or z) to be

(Insert your work for calculating t or z)

I have used t (or z) to get the value of p (most likely from a chart or computer printout - provide that printout). My p value is

Alpha, which is given in the problem, is

When I compared p to alpha, p is (choose 1: greater than/less than) alpha.

Because of this, I know I should (choose 1: reject / fail to reject) my null hypothesis.

Choose one: In summary, the mean balance is greater than than $1864 / In summary, the mean balance is NOT greater than $1864.