You may need to use the appropriate technology to answer this question. A shareholders' group, in lodging a protest, claimed that the mean tenure for a chief executive office (CEO) was at least nine...

Extracted text: You may need to use the appropriate technology to answer this question. 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 in The Wall Street Journal found a sample mean tenure of x7.27 years for CEOs with a standard deviation of s- 6.38 years. (a) Formulate hypotheses that can be used to challenge the validity of the claim made by the shareholders' group. H29 (b) Assume 90 companies were included in the sample. What is the test statistic? (Round your answer to three decimal places.) 1356 x What is the p-value for your hypothesis test? (Round your answer to four decimal places.) p-value - 242 x (c) At a- 0.01, what is your conclusion? O Reject H We can conclude that the mean tenure of a CEO is significantly lower than 9 years. The claim of the shareholders group is not valid. O Do not reject Hg. We cannot conclude that the mean tenure of a CEO is significantly lower than 9 years. The claim of the shareholders group is valid O Reject Hg. We cannot conclude that the mean tenure of a CEO is significantly lower than 9 years. The claim of the shareholders group is valid. O Do not reject Ho. We can condude that the mean tenure of a CEO is significantly lower than 9 years. The claim of the shareholders group is not valid.