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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 9 years. A survey of 91 companies reported in The Wall Street Journal found a sample mean tenure of 7.6 years for CEOS with a standard deviation of s = 4.5 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 = 0.001. Your hypotheses are: H: μΣ 9 Ha:µ < 9 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.) The p-value is... O less than (or equal to) a O greater than a This test statistic leads to a decision to... reject the null accept the null O fail to reject the null

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 9 years. A survey of 91 companies reported in The Wall Street Journal found a sample mean tenure of 7.6 years for CEOS with a standard deviation of s = 4.5 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 = 0.001. Your hypotheses are: H: μΣ 9 Ha:µ < 9 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.) The p-value is... O less than (or equal to) a O greater than a This test statistic leads to a decision to... reject the null accept the null O fail to reject the null

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 7PPS
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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 9 years. A survey of 91 companies reported in The Wall Street Journal found a sample mean tenure of 7.6 years for CEOS with a 4.5 years (The Wall Street Journal, January 2, 2007). You don't know the standard deviation of s 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 0.001. Your hypotheses are: H.: µ > 9 Ha:µ < 9 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.) The p-value is... O less than (or equal to) a greater than a This test statistic leads to a decision to... O reject the null O accept the null O fail to reject the null
Transcribed Image Text: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 9 years. A survey of 91 companies reported in The Wall Street Journal found a sample mean tenure of 7.6 years for CEOS with a 4.5 years (The Wall Street Journal, January 2, 2007). You don't know the standard deviation of s 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 0.001. Your hypotheses are: H.: µ > 9 Ha:µ < 9 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.) The p-value is... O less than (or equal to) a greater than a This test statistic leads to a decision to... O reject the null O accept the null O fail to reject the null
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