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A shareholders' group, in lodging a protest, claimed that the mean tenure for a chief executive office (CEO) was at least nine years. A survey of companies reported in The Wall Street Journal found a sample mean tenure of x = 7.27 years for CEOS with a standard deviation of s = 6.38 years. (a) Formulate hypotheses that can be used to challenge the validity of the claim made by the shareholders' group. 6 > r# :04 O O #o: H = 9 HaiH #9 O Ho: H >9 O Ho: us9 Hai H > 9 O Ho: u 29 H3: µ < 9 (b) Assume 95 companies were included in the sample. What is the test statistic? (Round your answer to three decimal places.) What is the p-value for your hypothesis test? (Round your answer to four decimal places.) p-value = (c) At a = 0.01, what is your conclusion? O Do not reject Ho. We cannot conclude that the mean tenure of a CEO is significantly lower than 9 years. The claim of the shareholders group is valid. O Reject Ha. We can conclude that the mean tenure of a CEO is significantly lower than 9 years. The claim of the shareholders group is not valid. O Do not reject Ho. We can conclude that the mean tenure of a CEO is significantly lower than 9 years. The claim of the shareholders group is not valid. O Reject Ho. We cannot conclude that the mean tenure of a CEO is significantly lower than 9 years. The claim of the shareholders group is valid.

A shareholders' group, in lodging a protest, claimed that the mean tenure for a chief executive office (CEO) was at least nine years. A survey of companies reported in The Wall Street Journal found a sample mean tenure of x = 7.27 years for CEOS with a standard deviation of s = 6.38 years. (a) Formulate hypotheses that can be used to challenge the validity of the claim made by the shareholders' group. 6 > r# :04 O O #o: H = 9 HaiH #9 O Ho: H >9 O Ho: us9 Hai H > 9 O Ho: u 29 H3: µ < 9 (b) Assume 95 companies were included in the sample. What is the test statistic? (Round your answer to three decimal places.) What is the p-value for your hypothesis test? (Round your answer to four decimal places.) p-value = (c) At a = 0.01, what is your conclusion? O Do not reject Ho. We cannot conclude that the mean tenure of a CEO is significantly lower than 9 years. The claim of the shareholders group is valid. O Reject Ha. We can conclude that the mean tenure of a CEO is significantly lower than 9 years. The claim of the shareholders group is not valid. O Do not reject Ho. We can conclude that the mean tenure of a CEO is significantly lower than 9 years. The claim of the shareholders group is not valid. O Reject Ho. We cannot conclude that the mean tenure of a CEO is significantly lower than 9 years. The claim of the shareholders group is valid.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
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A shareholders' group, in lodging a protest, claimed that the mean tenure for a chief executive office (CEO) was at least nine years. A survey of companies reported in The Wall Street Journal found a sample mean tenure of x = 7.27 years for CEOS with a standard deviation of s = 6.38 years. (a) Formulate hypotheses that can be used to challenge the validity of the claim made by the shareholders' group. 6 > r1 :ºH Ho: H = 9 H3: H # 9 Ho: H > 9 Ho: u3 9 HaiH > 9 Ho: H2 9 Ha: u < 9 (b) Assume 95 companies were included in the sample. What is the test statistic? (Round your answer to three decimal places.) What is the p-value for your hypothesis test? (Round your answer to four decimal places.) p-value = (c) At a = 0.01, what is your conclusion? Do not reject Ho. We cannot conclude that the mean tenure of a CEO is significantly lower than 9 years. The claim of the shareholders group is valid. Reject H.. We can conclude that the mean tenure of a CEO is significantly lower than 9 years. The claim of the shareholders group is not valid. Do not reject Ho. We can conclude that the mean tenure of a CEO is significantly lower than 9 years. The claim of the shareholders group is not valid. Reject Ho. We cannot conclude that the mean tenure of a CEO is significantly lower than 9 years. The claim of the shareholders group is valid.
Transcribed Image Text:A shareholders' group, in lodging a protest, claimed that the mean tenure for a chief executive office (CEO) was at least nine years. A survey of companies reported in The Wall Street Journal found a sample mean tenure of x = 7.27 years for CEOS with a standard deviation of s = 6.38 years. (a) Formulate hypotheses that can be used to challenge the validity of the claim made by the shareholders' group. 6 > r1 :ºH Ho: H = 9 H3: H # 9 Ho: H > 9 Ho: u3 9 HaiH > 9 Ho: H2 9 Ha: u < 9 (b) Assume 95 companies were included in the sample. What is the test statistic? (Round your answer to three decimal places.) What is the p-value for your hypothesis test? (Round your answer to four decimal places.) p-value = (c) At a = 0.01, what is your conclusion? Do not reject Ho. We cannot conclude that the mean tenure of a CEO is significantly lower than 9 years. The claim of the shareholders group is valid. Reject H.. We can conclude that the mean tenure of a CEO is significantly lower than 9 years. The claim of the shareholders group is not valid. Do not reject Ho. We can conclude that the mean tenure of a CEO is significantly lower than 9 years. The claim of the shareholders group is not valid. Reject Ho. We cannot conclude that the mean tenure of a CEO is significantly lower than 9 years. The claim of the shareholders group is valid.
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