Question

In: Statistics and Probability

A shareholders' group is lodging a protest against your company. The shareholders group claimed that the...

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 8 years. A survey of 82 companies reported in The Wall Street Journal found a sample mean tenure of 6.1 years for CEOs with a standard deviation of s=s= 4.3 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=0.01α=0.01. Your hypotheses are:

      Ho:μ≥8Ho:μ≥8
      H1:μ<8H1:μ<8

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

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

The p-value is...

  • less than (or equal to) αα
  • greater than αα

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 warrant rejection of the claim that the population mean is less than 8.
  • There is not sufficient evidence to warrant rejection of the claim that the population mean is less than 8.
  • The sample data support the claim that the population mean is less than 8.
  • There is not sufficient sample evidence to support the claim that the population mean is less than 8.

Solutions

Expert Solution


Related Solutions

A shareholders' group is lodging a protest against your company. The shareholders group claimed that the...
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 9 years. A survey of 84 companies reported in The Wall Street Journal found a sample mean tenure of 7.6 years for CEOs with a standard deviation of s=s= 5.9 years (The Wall Street Journal, January 2, 2007). You don't know the population standard deviation but can assume it is normally distributed. You...
A shareholders' group is lodging a protest against your company. The shareholders group claimed that the...
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 8 years. A survey of 117 companies reported in The Wall Street Journal found a sample mean tenure of 7.2 years for CEOs with a standard deviation of s = s = 5.7 years (The Wall Street Journal, January 2, 2007). You don't know the population standard deviation but can assume it is...
A shareholders' group is lodging a protest against your company. The shareholders group claimed that the...
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 69 companies reported in The Wall Street Journal found a sample mean tenure of 8.4 years for CEOs with a standard deviation of s=s= 5.6 years (The Wall Street Journal, January 2, 2007). You don't know the population standard deviation but can assume it is normally distributed. You...
A shareholder's group is lodging a protest against your company. The shareholder's group claimed that the...
A shareholder's group is lodging a protest against your company. The shareholder's group claimed that the mean tenure for the chief executive office (CEO) was at least 10 years. A survey of 21 companies reported in the Wall Street Journal found a sample mean tenure of 9 years for CEOs with a standard deviation of s=5.3 years. Test whether this is significant evidence that the mean tenure is less. (Please use calculator not table)
HW 44. 2 A shareholders' group is lodging a protest against your company. The shareholders group...
HW 44. 2 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 83 companies reported in The Wall Street Journal found a sample mean tenure of 9 years for CEOs with a standard deviation of s=s= 4.4 years (The Wall Street Journal, January 2, 2007). You don't know the population standard deviation but can assume it is...
A shareholders’ group, in lodging a protest, claimed that the mean tenure for a chief executive...
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 85 companies reported in The Wall Street Journal found a sample mean tenure of 7.27 years for CEOs with a standard deviation of 6.38 years (The Wall Street Journal, January 2, 2007). Compute the value of the test statistic. (Round to two decimal places) What is the p-value? (Round to three decimal places). At...
A group of shareholders claimed that the mean tenure for a CEO was at least nine...
A group of shareholders claimed that the mean tenure for a CEO was at least nine years. A survey of 81 companies found a sample mean tenure of 7.9 years with a standard deviation of 6.4 years. Using the p-value approach, perform the appropriate test at ?=0.10.
The shareholders group claimed that the mean tenure for a chief executive office (CEO) was less...
The shareholders group claimed that the mean tenure for a chief executive office (CEO) was less than 10 years. A survey of 36 companies were sampled and the mean tenure was 9.5 years with a standard deviation of 5.3 years. Assume the data 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 0.010.01. What is the test statistic...
The Occupy Movement was considered a global protest against the private ownership of resources and the...
The Occupy Movement was considered a global protest against the private ownership of resources and the resulting undermining of democracy. * True False
1. share your own experiences or reactions to the Coronavirus, the lockdown, mask-wearing/protest against mask-wearing. (...
1. share your own experiences or reactions to the Coronavirus, the lockdown, mask-wearing/protest against mask-wearing. ( your own word 250 words please)
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT