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 less than 9 years. A survey of 72 companies...

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 less than 9 years. A survey of 72 companies reported in The Wall Street Journal found a sample mean tenure of 7.3 years for CEOs with a standard deviation of 4.6 years (The Wall Street Journal, January 2, 2007).


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 0.005. Your hypotheses are:


      H0:μ≥9
      H1:μ<>


What is the test statistic for this sample?

(Report answer accurate to 3 decimal places.)


What is the p-value for this sample?

(Report answer accurate to 4 decimal places.)


This test statistic leads to a decision to

As such, the final conclusion is that