The shareholders group claimed that the mean tenure for a chief executive office (CEO) was less than 10 years. A survey of 36 companies were sampled and the mean tenure was 7.7 years with a standard deviation of 5.2 years. Assume the data is normally distributed. You want to formulate and test a hypothesis that can be used to challenge the validity of the claim made by the group, at a significance level of 0.050.05.  What is the test statistic for this sample? test statistic =  (Report answer accurate to 3 decimal places.) What is the p-value for this sample? p-value =  (Report answer accurate to 4 decimal places.)

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...