Answered: years. A survey of companies reported…

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, in lodging a protest, claimed that the mean tenure for a chief executive office (CEO) was at least nine years. A survey of companies reported in The Wall Street Journal found a sample mean tenure of x = 7.27 years for CEOs with a standard deviation of s = 6.38 years.

(a)

Formulate hypotheses that can be used to challenge the validity of the claim made by the shareholders' group.

H₀: μ = 9

H_a: μ ≠ 9

H₀: μ < 9

H_a: μ ≥ 9

H₀: μ ≥ 9

H_a: μ < 9

H₀: μ ≤ 9

H_a: μ > 9

H₀: μ > 9

H_a: μ ≤ 9

(b)

Assume 90 companies were included in the sample.

What is the test statistic? (Round your answer to three decimal places.)

( )

What is the p-value for your hypothesis test? (Round your answer to four decimal places.)

p-value =

what is your conclusion?

Do not reject H₀. We cannot conclude that the mean tenure of a CEO is significantly lower than 9 years. The claim of the shareholders group is valid.

Do not reject H₀. We can conclude that the mean tenure of a CEO is significantly lower than 9 years. The claim of the shareholders group is not valid.

Reject H₀. We cannot conclude that the mean tenure of a CEO is significantly lower than 9 years. The claim of the shareholders group is valid.

Reject H₀. We can conclude that the mean tenure of a CEO is significantly lower than 9 years. The claim of the shareholders group is not valid.

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