A shareholders' group is lodging a protest against your company. The shareholders group claimed that the mean tenure for a chief executive office (CEO) was at least 9 years. A survey of 79 companies reported in The Wall Street Journal found a sample mean tenure of 8.3 years for CEOs with a standard deviation ofs=5.4 years (The Wall Street Journal, January 2, 2007). You don't know the population standard deviation but can assume it is normally distributed.

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=0.002

. Your hypotheses are:

Ho:9

Ha:<9

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... (select one)

• less than (or equal to)
• greater than

This test statistic leads to a decision to... (select one)

• reject the null
• accept the null
• fail to reject the null

As such, the final conclusion is that... (select one)

• There is sufficient evidence to warrant rejection of the claim that the population mean is less than 9.
• There is not sufficient evidence to warrant rejection of the claim that the population mean is less than 9.
• The sample data support the claim that the population mean is less than 9.
• There is not sufficient sample evidence to support the claim that the population mean is less than 9.