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. H₁₂ : μ =9 H₂:μ#9 O Hg:μ 29 Ha: μ< 9 Ho: μ≤9 H₂: μ>9 Ho: μ< 9 Ha:μ ≥9 Ho: μ> 9 H₂:μ ≤9 (b) Assume 95 companies were included in the sample. What is the test statistic? (Round your answer to three decimal places.) -2.643 What is the p-value for your hypothesis test? (Round your answer to four decimal places.) p-value = 0.9952 X (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. 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 cannot conclude that the mean tenure of a CEO is significantly lower than 9 years. The claim of the shareholders group is 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. H₁₂ : μ =9 H₂:μ#9 O Hg:μ 29 Ha: μ< 9 Ho: μ≤9 H₂: μ>9 Ho: μ< 9 Ha:μ ≥9 Ho: μ> 9 H₂:μ ≤9 (b) Assume 95 companies were included in the sample. What is the test statistic? (Round your answer to three decimal places.) -2.643 What is the p-value for your hypothesis test? (Round your answer to four decimal places.) p-value = 0.9952 X (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. 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 cannot conclude that the mean tenure of a CEO is significantly lower than 9 years. The claim of the shareholders group is 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
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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.
H₁₂ : μ =9
H₂:μ#9
O
Hg:μ 29
Ha: μ< 9
Ho: μ≤9
H₂: μ>9
Ho: μ< 9
Ha:μ ≥9
Ho: μ> 9
H₂:μ ≤9
(b) Assume 95 companies were included in the sample.
What is the test statistic? (Round your answer to three decimal places.)
-2.643
What is the p-value for your hypothesis test? (Round your answer to four decimal places.)
p-value = 0.9952
X
(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.
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 cannot conclude that the mean tenure of a CEO is significantly lower than 9 years. The claim of the shareholders group is valid.
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