According to a report released by CIBC entitled “Women Entrepreneurs: Leading The Charge,” the average age for Canadian women entrepreneurs in 2020 is 40 years with a standard deviation of 8.95. However, under current conditions, there are already a lot of women who have become leaders, and there are some indications that there is an increase in the average age for these women entrepreneurs. Researchers wanted to find out whether, indeed, the average age that Canadian women entrepreneurs had is increasing. The researchers randomly sampled 97 Canadian women entrepreneurs and confirmed that the sample average age was 43.4 years. You are asked to help the research team carry out a test to determine whether the mean age of Canadian women entrepreneurs has increased significantly (greater than 40 years) using the 4% (α) significance level? What's the decision? If the null hypothesis is rejected / accepted, what is your conclusion?
According to a report released by CIBC entitled “Women Entrepreneurs: Leading The Charge,” the average age for Canadian women entrepreneurs in 2020 is 40 years with a standard deviation of 8.95. However, under current conditions, there are already a lot of women who have become leaders, and there are some indications that there is an increase in the average age for these women entrepreneurs. Researchers wanted to find out whether, indeed, the average age that Canadian women entrepreneurs had is increasing. The researchers randomly sampled 97 Canadian women entrepreneurs and confirmed that the sample average age was 43.4 years. You are asked to help the research team carry out a test to determine whether the
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