A shareholders' group is lodging a protest against your company. The shareholders group claimed that the...
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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 executive officer (CEO) was at least 10 years. A survey of 104 companies reported in The Wall Street Journal found a sample mean tenure of 9.5 years for CEOs with a standard deviation of 8 = 4.4 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 a = 0.001. Your hypotheses are: : = 10 H : < 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.) A shareholders' group is lodging a protest against your company. The shareholders group claimed that the mean tenure for a chief executive officer (CEO) was at least 10 years. A survey of 104 companies reported in The Wall Street Journal found a sample mean tenure of 9.5 years for CEOs with a standard deviation of 8 = 4.4 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 a = 0.001. Your hypotheses are: : = 10 H : < 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.)
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