MY NOTES ASK YOUR TEACHER In this problem, assume that the distribution of differences is approximately normal. Note: For degrees of freedom d.f. not in the Student's t table, use the closest d.f. that is smaller. In some situations, this choice of d.f. may increase the p-value by a small amount and therefore produce a slightly more "conservative" answer. Are America's top chief executive officers (CEOs) really worth all that money? One way to answer this question is to look at row B, the annual company percentage increase in revenue, versus row A, the CEO's annual percentage salary increase in that same company. Suppose a random sample of companies yielded the following data: B: Percent increase for company 22 25 27 18 21 37 A: Percent increase for CEO 23 23 22 4 19 15 30 (b) What sampling distribution will you use? What assumptions are you making? O The standard normal. We assume that d has an approximately uniform distribution. O The standard normal. We assume that d has an approximately normal distribution. O The Student's t. We assume that d has an approximately uniform distribution. The Student's t. We assume that d has an approximately normal distribution. What is the value of the sample test statistic? (Round your answer to three decimal places.) (c) Find (or estimate) the p-value. O P-value > 0.500 0.250 < P-value < 0.500 O 0.100 < P-value < 0.250 O 0.050 < P-value < 0.100 O 0.010 < P-value < 0.050 O p-value < 0.010 (e) Interpret your conclusion in the context of the application. O Reject Hg. At the 5% level of significance, the evidence is sufficient to claim a difference in population mean percentage increases for corporate revenue and CEO salary. O Fail to reject Hg. At the 5% level of significance, the evidence is sufficient to claim a difference in population mean percentage increases for corporate revenue and CEO salary. O Reject Ho- At the 5% level of significance, the evidence is insufficient to claim a difference in population mean percentage increases for corporate revenue and CEO salary. O Fail to reject Hg. At the 5% level of significance, the evidence is insufficient to claim a difference in population mean percentage increases for corporate revenue and CEO salary. (e) Interpret your conclusion in the context of the application. O Reject Ho. At the 5% level of significance, the evidence is sufficient to claim a difference in population mean percentage increases for corporate revenue and CEO salary. O Fail to reject Hg. At the 5% level of significance, the evidence is sufficient to claim a difference in population mean percentage increases for corporate revenue and CEO salary. O Reject Hg. At the 5% level of significance, the evidence is insufficient to claim a difference in population mean percentage increases for corporate revenue and CEO salary. O Fail to reject Ho. At the 5% level of significance, the evidence is insufficient to claim a difference in population mean percentage increases for corporate revenue and CEO salary