A shareholders' group, in lodging a protest, claimed that the mean tenure for a chief executive ofcer (CEO) was at least nine years. A survey of

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A shareholders‘ group, in lodging a protest, claimed that the mean tenure for a chief executive officer (CEO) was at least nine years. A survey of companies reported in The Wall Street Journal founda sample mean tenure of)? = 7.07 years for CEOs with a standard deviation of s = 6.38 years. (a) Choose the correct hypotheses that can be used to challenge the validity of the claim made by the shareholders' group. Ho: u - Select your answer - c ‘ years Ha: u - Select your answer - c l . years(b) Assume that 85 companies were included in the sample. What is the p value for your hypothesis test? If required, round your answer to four decimal places.(c) At a = 0.01, what is your conclusion? We - Select your answer - ¢ the null hypothesis. We - Select your answer - ¢ conclude that the mean tenure for a CEO is shorter than nine years.