help please 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 at least 11 years. A survey of 66 companies reported in The Wall Street Journal found a sample mean tenure of 10.1 years for CEOs with a standard deviation of s=s= 5.5 years (The Wall Street Journal, January 2, 2007). You don't know the population standard deviation but can assume it is normally distributed. 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 α=0.05α=0.05. Your hypotheses are: Ho:μ≥11 Ha:μ<11 a) What is the test statistic for this sample? test statistic = (Report answer accurate to 3 decimal places.) Type in your work or click on the paperclip icon in the tool bar for the "Add Work" box and upload a picture of your work to receive full credit for this question. b) What is the p-value for this sample? p-value = (Report answer accurate to 4 decimal places.) Type in your work or click on the paperclip icon in the tool bar for the "Add Work" box and upload a picture of your work to receive full credit for this question. c) The p-value is... less than (or equal to) αα greater than αα d) This test statistic leads to a decision to... reject the null accept the null fail to reject the null e) As such, the final conclusion is that... There is sufficient evidence to warrant rejection of the claim that the population mean is less than 11. There is not sufficient evidence to warrant rejection of the claim that the population mean is less than 11. The sample data support the claim that the population mean is less than 11. There is not sufficient sample evidence to support the claim that the population mean is less than 11.

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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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 at least 11 years. A survey of 66 companies reported in The Wall Street Journal found a sample mean tenure of 10.1 years for CEOs with a standard deviation of s=s= 5.5 years (The Wall Street Journal, January 2, 2007). You don't know the population standard deviation but can assume it is normally distributed.

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 α=0.05α=0.05. Your hypotheses are:

      Ho:μ≥11
      Ha:μ<11

a) What is the test statistic for this sample?
test statistic =  (Report answer accurate to 3 decimal places.)

Type in your work or click on the paperclip icon in the tool bar for the "Add Work" box and upload a picture of your work to receive full credit for this question.

b) What is the p-value for this sample?
p-value =  (Report answer accurate to 4 decimal places.)

Type in your work or click on the paperclip icon in the tool bar for the "Add Work" box and upload a picture of your work to receive full credit for this question.

c) The p-value is...

less than (or equal to) αα
greater than αα

d) This test statistic leads to a decision to...

reject the null
accept the null
fail to reject the null

e) As such, the final conclusion is that...

There is sufficient evidence to warrant rejection of the claim that the population mean is less than 11.
There is not sufficient evidence to warrant rejection of the claim that the population mean is less than 11.
The sample data support the claim that the population mean is less than 11.
There is not sufficient sample evidence to support the claim that the population mean is less than 11.

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