Most powerful business women in America. Refer to Fortune (Oct. 16, 2008) magazine’s study...

Most powerful business women in America. Refer to Fortune (Oct. 16, 2008) magazine’s study of the 50 most powerful women in business in America, Exercise: Most powerful businesswomen in America. Fortune (Oct. 16, 2008) published a list of the 50 most powerful women in business in the United States. The data on age (in years) and title of each of these 50 women are stored in the WPOWER50 file. The first five and last five observations of the data set are listed in the table below. Descriptive statistics for the ages are displayed on the MINITAB printouts

a. Find the mean, median, and modal age of these 50 women on the printout. Interpret these values.

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b. What do the mean and median indicate about the skewness of the age distribution?

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c. Find the modal age class on the histogram

Recall that data on age (in years) and title of each of these 50 women are stored in the WPOWER50 file. (Some of the data set is listed in the table below.) Suppose you want to compare the average ages of the most powerful American women in three groups based on their position (title) within the firm: Group 1 (CEO, CEO/Chairman, or CEO/President), Group 2 (Chairman, President, COO, or COO/President), and Group 3 (Director, EVP, EVP/COO, EVP/President, Executive, SVP, or VP).

a. Give the null and alternative hypotheses to be tested.

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b. An SPSS analysis-of-variance printout for the test you stated in part a is shown in the next column. The sample means for the 3 groups appear at the bottom of the printout. Why is it insufficient to make a decision about the null hypothesis based solely on these sample means?

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c. Locate the test statistic and p -value on the printout. Use this information to make the appropriate conclusion at α = .10.

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d. Use the data in the WPOWER50 file to determine whether the ANOVA assumptions are reasonably satisfied.