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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 exective office (CEO) was less than 10 years. A survey of 55 companies reported in The Wall Street Journal found a sample mean tenure of 8.7 years for CEOS with a standard deviation of 4.2 years (The Wall Street Journal, January 2, 2007). 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 0.002. Your hypotheses are: Ho : μ ≥ 10 H : μ < 10 What is the test statistic for this sample? (Report answer accurate to 3 decimal places.) What is the p-value for this sample? (Report answer accurate to 4 decimal places.) This test statistic leads to a decision to O reject the null O accept the null O fail to reject the null As such, the final conclusion is that Othere is sufficient evidence to conclude that the population mean tenure for CEOs is equal to 10. O there is not sufficient evidence to conclude that the population mean tenure for CEOs is equal to 10. Othere is sufficient evidence to conclude that the population mean tenure for CEOs is less than 10. O there is not sufficient evidence to conclude that the population mean tenure for CEOs is less than

A shareholders' group is lodging a protest against your company. The shareholders group claimed that the mean tenure for a chief exective office (CEO) was less than 10 years. A survey of 55 companies reported in The Wall Street Journal found a sample mean tenure of 8.7 years for CEOS with a standard deviation of 4.2 years (The Wall Street Journal, January 2, 2007). 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 0.002. Your hypotheses are: Ho : μ ≥ 10 H : μ < 10 What is the test statistic for this sample? (Report answer accurate to 3 decimal places.) What is the p-value for this sample? (Report answer accurate to 4 decimal places.) This test statistic leads to a decision to O reject the null O accept the null O fail to reject the null As such, the final conclusion is that Othere is sufficient evidence to conclude that the population mean tenure for CEOs is equal to 10. O there is not sufficient evidence to conclude that the population mean tenure for CEOs is equal to 10. Othere is sufficient evidence to conclude that the population mean tenure for CEOs is less than 10. O there is not sufficient evidence to conclude that the population mean tenure for CEOs is less than

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.6: Summarizing Categorical Data
Problem 30PPS
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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 exective office (CEO) was less than 10 years. A survey of 55 companies reported in The Wall Street Journal found a sample mean tenure of 8.7 years for CEOs with a standard deviation of 4.2 years (The Wall Street Journal, January 2, 2007). 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 0.002. Your hypotheses are: Ho : μ > 10 H₁ : µ< 10 What is the test statistic for this sample? (Report answer accurate to 3 decimal places.) What is the p-value for this sample? (Report answer accurate to 4 decimal places.) This test statistic leads to a decision to O reject the null accept the null O fail to reject the null As such, the final conclusion is that O there is sufficient evidence to conclude that the population mean tenure for CEOs is equal to 10. O there is not sufficient evidence to conclude that the population mean tenure for CEOs is equal to 10. O there is sufficient evidence to conclude that the population mean tenure for CEOs is less than 10. O there is not sufficient evidence to conclude that the population mean tenure for CEOs is less than
Transcribed Image Text:A shareholders' group is lodging a protest against your company. The shareholders group claimed that the mean tenure for a chief exective office (CEO) was less than 10 years. A survey of 55 companies reported in The Wall Street Journal found a sample mean tenure of 8.7 years for CEOs with a standard deviation of 4.2 years (The Wall Street Journal, January 2, 2007). 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 0.002. Your hypotheses are: Ho : μ > 10 H₁ : µ< 10 What is the test statistic for this sample? (Report answer accurate to 3 decimal places.) What is the p-value for this sample? (Report answer accurate to 4 decimal places.) This test statistic leads to a decision to O reject the null accept the null O fail to reject the null As such, the final conclusion is that O there is sufficient evidence to conclude that the population mean tenure for CEOs is equal to 10. O there is not sufficient evidence to conclude that the population mean tenure for CEOs is equal to 10. O there is sufficient evidence to conclude that the population mean tenure for CEOs is less than 10. O there is not sufficient evidence to conclude that the population mean tenure for CEOs is less than
It's proposed that the average life expectancy these days is 80.8, but recent data suggests it might be less than that. A sample size of 56 countries found a sample mean life expectancy of 79.3 years with a standard deviation of 11.2 years. You want to formulate and test a hypothesis that can be used to challenge the validity of the claim at a significance level of 0.05. With hypotheses H₁ : μ ≥ 80.8 vs H₁ μ< 80.8, what is/are the critical value(s)? (Report answer accurate to 2 decimal places.) What is the test statistic for this sample? (Report answer accurate to 3 decimal places.) What is the p-value for this sample? (Report answer accurate to 4 decimal places.) Our decision is to reject the null O accept the null O fail to reject the null As such, the final conclusion is that O there is sufficient evidence to conclude that the population mean life expectancy is equal to 80.8. O there is not sufficient evidence to conclude that the population mean life expectancy is equal to
Transcribed Image Text:It's proposed that the average life expectancy these days is 80.8, but recent data suggests it might be less than that. A sample size of 56 countries found a sample mean life expectancy of 79.3 years with a standard deviation of 11.2 years. You want to formulate and test a hypothesis that can be used to challenge the validity of the claim at a significance level of 0.05. With hypotheses H₁ : μ ≥ 80.8 vs H₁ μ< 80.8, what is/are the critical value(s)? (Report answer accurate to 2 decimal places.) What is the test statistic for this sample? (Report answer accurate to 3 decimal places.) What is the p-value for this sample? (Report answer accurate to 4 decimal places.) Our decision is to reject the null O accept the null O fail to reject the null As such, the final conclusion is that O there is sufficient evidence to conclude that the population mean life expectancy is equal to 80.8. O there is not sufficient evidence to conclude that the population mean life expectancy is equal to
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