Question: A shareholders' group, in lodging a protest, claimed that the mean tenure for a chief executive officer (CEO) was at least nine years. A survey

A shareholders' group, in lodging a protest, claimed that the mean tenure for a chief executive officer (CEO) was at least nine years. A survey of companies reported inThe Wall Street Journalfound a sample mean tenure ofx= 7.67 years for CEOs with a standard deviation ofs= 6.38 years.

(a) Choose the correct hypotheses that can be used to challenge the validity of the claim made by the shareholders' group.

H0:- Select your answer -

How manyyears?

Ha:- Select your answer -

How manyyears?

(b)Assume that 85 companies were included in the sample. What is thepvalue for your hypothesis test? If required, round your answer to four decimal places?

(c)At= 0.01, what is your conclusion?We- Select your answer - reject - fail to reject

the null hypothesis. We- Select your answer - can - cannot

conclude that the mean tenure for a CEO is shorter than nine years.

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