Start your trial now! First week only $4.99!*arrow_forward*

Question

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.

H_{0}: μ = 9

H_{a}: μ ≠ 9

H_{0}: μ < 9

H_{a}: μ ≥ 9

H_{0}: μ ≥ 9

H_{a}: μ < 9

H_{0}: μ ≤ 9

H_{a}: μ > 9

H_{0}: μ > 9

H_{a}: μ ≤ 9

(b)

Assume 90 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.)

(c) At ? = 0.01,

what is your conclusion?

Do not reject *H*_{0}. We cannot conclude that the mean tenure of a CEO is significantly lower than 9 years. The claim of the shareholders group is valid.

Do not reject *H*_{0}. 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 *H*_{0}. 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*_{0}. 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.

Tagged in

Math

Statistics

Find answers to questions asked by students like you.

Q: A univariate, one-way analysis of variance always involves: b) Only one level of the independe...

A: Answer:- a)Only one independent variable.

Q: Yearly automobile inspections are required for residents of the state of Pennsylvania. Suppose that ...

A: Define the following events: A: a inspected car has problem B: a inspected car does not have the pro...

Q: Porphyrin is a pigment in blood and other body fluids that is significant in body energy and storage...

A: According to the provided information, μ = 38 and σ = 12.

Q: Statistics Question

A: a. Following data is given: From the given info, there are two factors with two levels each. Two fa...

Q: SEE IMAGE Use the following information to answer the question. A sprint duathlon consists of a 5 km...

A: Statistic: The statistical measure that describes the features of the sample that is taken from the ...

Q: Recently there have been concerns about the effects of phthalates on the devel- opment of the male r...

A: The hypothesis are given by : Ho : μ=1700mgH1 : μ<1700mg (left-tailed) Consider the level of sign...

Q: As a quality-control inspector for toy trucks, you have observed that 3% of the time, the wooden whe...

A: Given data, p=3%=0.03 q=1-p=1-0.03=0.97 Let X be the wooden wheels are bored off-center n=4 P(X=0)=...

Q:

A: Given the grade distribution is- A B C D F 30 62 64 32 12 N=200 Number of categories(C)=5 D...

Q: Find the range, the standard deviation, and the variance for the given samples. Round non-integer re...

A: Obtain the value of the range The value of the range is obtained below as follows: The formula t...