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Algebra
Question

A shareholders' group is lodging a protest against...

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 \( 73 \) ammanies renorted in The Wall Street lournal found a samble mean tenure of \( 10.2 \) vears for CEOs With a standard deviation of \( s = 4.8 \) years (The Wall Street joumal, 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 \( \alpha = 0.05 \) . Your hypotheses are: 

\( H _ { o } : \mu \geq 11 \) 

\( H _ { a } : \mu < 11\) 

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? (Repalue \( = \) The p-value is... less thanswer accurate to \( 4 \) decimal places.) greater than \( \alpha \) 

This test statistic leads to a decision to... reject the null 

As such, the final conclusion is that... There is sufficient evidence to warrant rejection of the claim that the population mean is less than \( 11 . \) There is not sufficient evidence to warrant rejection of the claim that the population mean is less than \( 11 . \) The sample data support the claim that the population mean is less than \( 11 . \) There is not sufficient sample evidence to support the claim that the population mean is less than \( 11 \) . 

Answer

-1.42

0.0778

 

Solution
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