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: 459 H₂: μ>9 O Ho: 429 H₂: H<9 OH0:4>9 H₂ : 159 = 9 o Hoi Hong H₂:μ#9 o Hokag H₂:429 (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 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 not valid. 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 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 s 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: 459 H₂: μ>9 O Ho: 429 H₂: H<9 OH0:4>9 H₂ : 159 = 9 o Hoi Hong H₂:μ#9 o Hokag H₂:429 (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 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 not valid. 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 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 s valid.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question
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
O
Ha: μ>9
O
O
Ho: μ ≥9
H₂: μ< 9
H₂= μ > 9
H₂:μ≤9
Ho: μ = 9
Ha: μ # 9
Ho: μ< 9
H₂: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 =
(c) At a = 0.01, what is your conclusion?
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 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.
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.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 4 steps with 1 images
Recommended textbooks for you
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman