In preparing to discuss the current CEO's contract, a group of Board Members claimed that the mean tenure for a Chief Executive Officer (CEO) was at least nine years. A survey of companies reported in the Wall Street Journal found a sample mean tenure of 7.27 years for CEO's with a standard deviation of the sample of 6.38 years

1. Formulate a hypothesis test that can be used to challenge the validity of the claim made by the shareholder's group.
2. Assume 85 companies where included in the survey, at = 1%, what is the conclusion to your test?