MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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What does it mean when sample results are statistically significant?
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- A shareholders' group is lodging a protest against your company. The shareholders group claimed that the mean tenure for a chief exective office (CEO) was at least 11 years. A survey of 62 companies reported in The Wall Street Journal found a sample mean tenure of 9.3 years for CEOS with a standard deviation of s = 4.4 years (The Wall Street Journal, January 2, 2007). You don't know the population standard deviation but can assume it 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 a = 0.05. Your hypotheses are: H.:µ > 11 На: :и < 11 What is the test statistic for this sample?arrow_forwardTrue or false: The P-value is the smallest significance level for which the observed sample data result in rejection of the null hypothesis.arrow_forwardPerforming a statistical analysis on managers and employees, and we need to determine whether the data is "significant" enough to consider the two groups to have different levels of desirability. How is the level of significance, p = 0.05, set?arrow_forward
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