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4 . You are the manager of a Project Management Office ( PMO ) . You receive a proposal for a project with a mean

4. You are the manager of a Project Management Office (PMO). You receive a proposal for a project with a mean budget of $2.5M. You do not think that this estimate is correct. To validate your assertion, you review archived historical budget documents for 30 previously completed similar projects in the organization and find the mean budget of the sample of 30 projects to be $2.2M with a standard deviation of $700,000. Is there enough evidence to support your claim at \alpha =0.05? Use a p-value.

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