Keep getting the p value sample wrong A shareholders' group is lodging a protest against your company. The shareholders group claimed that the mean tenure for a chief executive officer (CEO) was at least 9 years. A survey of 98 companies reported in The Wall Street Journal found a sample mean tenure of 8.7 years for CEOs with a standard deviation of \( s = 4.7 \) 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 \( \alpha = 0.001 \). Your hypotheses are:\( H_o: \mu \geq 9 \)\( H_a: \mu < 9 \)What is the test statistic for this sample?\[ z = -0.600 \] **Transcription and Explanation for Educational Website**---**Test Statistic and p-value Analysis**1. **Test Statistic for the Sample** - The test statistic is calculated to be **-0.632**, accurate to three decimal places. This indicates the standardized value of the deviation of the sample mean from the null hypothesis. A green checkmark signifies correctness.2. **p-value for the Sample** - The p-value is given as **0.2637**, but it appears incorrect for some reason, as indicated by a red cross. This should be accurate to four decimal places.3. **p-value Comparison** - The question asks whether the p-value is less than or equal to α (alpha) or greater than α. - It is determined that the p-value is **greater than α**, indicated by a checked option under "greater than α."4. **Decision Based on the Test Statistic** - Considering the test statistic, the decision is to **fail to reject the null hypothesis**. This choice is marked with a check, suggesting that the p-value is not small enough to reject the null hypothesis, therefore not providing strong evidence against it.**Graphical Elements:**- The checkboxes and radio buttons visually represent choices similar to a multiple-choice format. - Green and red markings provide visual feedback on correct and incorrect responses.This explanation helps in understanding hypothesis testing—specifically the interpretation of test statistics and p-values in making statistical decisions.

Name: Keep getting the p value sample wrong A shareholders' group is lodging
Uploaded: 2024-03-20T07:06:27.000Z
Channel: Bartleby
Description: Keep getting the p value sample wrong A shareholders' group is lodging a protest against your company. The shareholders group claimed that the mean tenure for a chief executive officer (CEO) was at least 9 years. A survey of 98 companies reported in