A national business magazine reports that the mean age of retirement for women executives is 62.4. A women’s rights organization believes that this value does not accurately depict the current trend in retirement. To test this, the group polled a simple random sample of 8989 recently retired women executives and found that they had a mean age of retirement of 63.4 Assuming the population standard deviation is 4.7 years, is there sufficient evidence to support the organization’s belief at the 0.02 level of significance? Draw a conclusion and interpret the decision.

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