5.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 inThe Wall Street Journal found a sample mean tenure of ~ = 7.27 years for CEOswith a standard deviation of s = 6.38 years. [3 marks]

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

b. Assume 85 companies were included in the sample. What is p-value for your hypothesis test?

c. At a = 0.01, what is your conclusion?