What is the test statistic for this sample? (Report answer accurate to 3 decimal places.) What is the p-value for this sample? (Report answer accurate to 4 decimal places.)
A shareholders' group is lodging a protest against your company. The shareholders group claimed that the
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 0.005. Your hypotheses are:
H0:μ≥9
H1:μ<9
What is the test statistic for this sample?
(Report answer accurate to 3 decimal places.)
What is the p-value for this sample?
(Report answer accurate to 4 decimal places.)
This test statistic leads to a decision to
- reject the null
- accept the null
- fail to reject the null
As such, the final conclusion is that
- there is sufficient evidence to conclude that the population mean tenure for CEOs is equal to 9.
- there is not sufficient evidence to conclude that the population mean tenure for CEOs is equal to 9.
- there is sufficient evidence to conclude that the population mean tenure for CEOs is less than 9.
- there is not sufficient evidence to conclude that the population mean tenure for CEOs is less than 9.
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