According to a report released by CIBC entitled Women Entrepreneurs: Leading the Charge, the average age for

Question:

According to a report released by CIBC entitled “Women Entrepreneurs: Leading the Charge,” the average age for Canadian businesswomen in a recent year was 41. In the report, there was some indication that analysts believed that this mean age will increase. Suppose now, several years later, business analysts want to determine if, indeed, the mean age of a Canadian businesswoman has increased. The analysts randomly sample 97 Canadian businesswomen and ascertain. that the sample mean age is 43.4. From past experience, it is known that the population standard deviation is 8.95. Determine if the mean age of a Canadian businesswoman has increased using a 1% level of significance. What is the p-value for this test? What is the decision? If the null hypothesis is rejected, is the result substantive?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Business Statistics For Contemporary Decision Making

ISBN: 9781119577621

3rd Canadian Edition

Authors: Ken Black, Ignacio Castillo

Question Posted: