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 10 years. A survey of 119
companies reported in The Wall Street Journal found a sample mean
tenure of 9.4 years for CEOs with a standard deviation of s= 5.1
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 α=0.01. Your hypotheses are:
Ho:μ≥10
Ha:μ<10
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...
This test statistic leads to a decision to...
As such, the final conclusion is that...
This is the left tailed test .
Test statistic = z
= ( - ) / / n
= (9.4 - 10) / 5.1 / 119
Test statistic = -1.283
P(z < -1.283) = 0.0997
P-value = 0.0997
= 0.01
P-value >
Fail to reject the null hypothesis .
There is not sufficient evidence to warrant rejection of the claim that the population mean is less than 10.
A shareholders' group is lodging a protest against your company. The shareholders group claimed that the...
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 10 years. A survey of 76 companies reported in The Wall Street Journal found a sample mean tenure of 9 years for CEOs with a standard deviation of s=5.6 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...
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 112 companies reported in The Wall Street Journal found a sample mean tenure of 8.6 years for CEOs with a standard deviation of s = 5.9 years (The Wall Street Journal, January 2, 2007). You don't know the population standard deviation but can assume it is normally distributed....
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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 10 years. A survey of 71 companies reported in The Wall Street Journal found a sample mean tenure of 8.9 years for CEOs with a standard deviation of 5.9 years (The Wall Street Journal, January 2, 2007). You want to formulate and test a hypothesis that can be used to challenge the validity...
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