Help with 5 step method, please walk me through. According to a magazine, the average age...
Help with 5 step method, please walk me through.
According to a magazine, the average age of all CEOs of medium sized companies in the United States is less than 58 years. To check, you obtain a random sample of 70 such CEOs and find the average age to be 55 years with a standard deviation of 6 years. Test at the 1% level of significance if the average age is less than 58 years. Use the 5 step method.
Homework Answers
Null hypothethis : Population mean is less than 58
Given
n= 70
Since the Z-value is less than 2.58 therefore we reject the null hypothesis
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Help with 5 step method, please walk me through.
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