The average retirement age in America is 62 years old. Do small business owners retire at a differentaverage age? The data below shows the results of a survey of small business owners who have recentlyretired. Assume that the distribution of the population is normal.72, 68, 63, 59, 55, 59, 67, 62, 71, 69, 70, 58, 59, 66, 66, 65What can be concluded at the the a = 0.01 level of significance level of significance?a. For this study, we should use Select an answerb. The null and alternative hypotheses would be:Ho: ?v Select an answerH1:? v Select an answerc. The test statistic ? v(please show your answer to 3 decimal places.)d. The p-value =(Please show your answer to 4 decimal places.)e. The p-value is ? vaf. Based on this, we should Select an answer v the null hypothesis.g. Thus, the final conclusion is that ...O The data suggest the populaton mean is significantly different from 62 at a = 0.01, so there issufficient evidence to conclude that the population mean retirement age for small businessowners is different from 62.O The data suggest the population mean retirement age for small business owners is notsignificantly different from 62 at a = 0.01, so there is insufficient evidence to conclude thatthe population mean retirement age for small business owners is different from 62.The data suggest the population mean is not significantly different from 62 at a = 0.01, sothere is sufficient evidence to conclude that the population mean retirement age for smallbusiness owners is equal to 62.

We have given that, 72, 68, 63, 59, 55, 59, 67, 62, 71, 69, 70, 58, 59, 66, 66, 65 and Significance…

Answered: The average retirement age in America…

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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