A shareholders' group, in lodging a protest, claimed that the mean tenure for a chief executive office (CEO) was at least nine years. A survey of companies reported in The Wall Street Journal found a sample mean tenure of x = 7.27 years for CEOs with a standard deviation of s= 6.38 years. (a) Formulate hypotheses that can be used to challenge the validity of the claim made by the shareholders' group. O Ho: μ ≥9 H₂: H<9 ○ Ho: μ = 9 H₂:μ #9 O Ho: μ > 9 H₂: H≤9 O Ho: H < 9 H₂:μ ≥9 O Ho: H≤9 H₂: H>9 (b) Assume 90 companies were included in the sample. What is the test statistic? (Round your answer to three decimal places.) What is the p-value for your hypothesis test? (Round your answer to four decimal places.) p-value = (c) At a = 0.01, what is your conclusion? O Reject Ho. We cannot conclude that the mean tenure of a CEO is significantly lower than 9 years. The claim of the shareholders group is valid. O Do not reject Ho. We can conclude that the mean tenure of a CEO is significantly lower than 9 years. The claim of the shareholders group is not valid. O Do not reject Ho. We cannot conclude that the mean tenure of a CEO is significantly lower than 9 years. The claim of the shareholders group is valid. O Reject Ho. We can conclude that the mean tenure of a CEO is significantly lower than 9 years. The claim of the shareholders group is not valid.
A shareholders' group, in lodging a protest, claimed that the mean tenure for a chief executive office (CEO) was at least nine years. A survey of companies reported in The Wall Street Journal found a sample mean tenure of x = 7.27 years for CEOs with a standard deviation of s= 6.38 years. (a) Formulate hypotheses that can be used to challenge the validity of the claim made by the shareholders' group. O Ho: μ ≥9 H₂: H<9 ○ Ho: μ = 9 H₂:μ #9 O Ho: μ > 9 H₂: H≤9 O Ho: H < 9 H₂:μ ≥9 O Ho: H≤9 H₂: H>9 (b) Assume 90 companies were included in the sample. What is the test statistic? (Round your answer to three decimal places.) What is the p-value for your hypothesis test? (Round your answer to four decimal places.) p-value = (c) At a = 0.01, what is your conclusion? O Reject Ho. We cannot conclude that the mean tenure of a CEO is significantly lower than 9 years. The claim of the shareholders group is valid. O Do not reject Ho. We can conclude that the mean tenure of a CEO is significantly lower than 9 years. The claim of the shareholders group is not valid. O Do not reject Ho. We cannot conclude that the mean tenure of a CEO is significantly lower than 9 years. The claim of the shareholders group is valid. O Reject Ho. We can conclude that the mean tenure of a CEO is significantly lower than 9 years. The claim of the shareholders group is not valid.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
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Transcribed Image Text:A shareholders' group, in lodging a protest, claimed that the mean tenure for a chief executive office (CEO) was at least nine years. A survey of companies reported in The Wall Street Journal found a
sample mean tenure of x = 7.27 years for CEOs with a standard deviation of s =
6.38 years.
(a) Formulate hypotheses that can be used to challenge the validity of the claim made by the shareholders' group.
Ho:μ ≥9
H₂:μ< 9
Ho: μ = 9
H₂:μ ‡ 9
(c)
Ho: M > 9
Ha₂:μ ≤ 9
Ho: μ< 9
Ha:μ ≥9
Ho:μ ≤9
Ha:μ > 9
(b) Assume 90 companies were included in the sample.
What is the test statistic? (Round your answer to three decimal places.)
What is the p-value for your hypothesis test? (Round your answer to four decimal places.)
p-value =
At α = 0.01, what is your conclusion?
Reject Ho. We cannot conclude that the mean tenure of a CEO is significantly lower than 9 years. The claim of the shareholders group is valid.
Do not reject Ho. We can conclude that the mean tenure of a CEO is significantly lower than 9 years. The claim of the shareholders group is not valid.
Do not reject Ho. We cannot conclude that the mean tenure of a CEO is significantly lower than 9 years. The claim of the shareholders group is valid.
Reject Ho. We can conclude that the mean tenure of a CEO is significantly lower than 9 years. The claim of the shareholders group is not valid.
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