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Test of Hypothesis Assignment | Professional Writing Services

Are America’s top chief executive officers (CEOs) really worth all that money? One way to answer this question is to look at the annual company percentage increase in revenue versus the CEO’s annual percentage salary increase in that same company. Suppose that a random sample of companies yielded the following data:

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percent change for the corporation

15

12

3

12

 

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28

6

8

2

percent change for CEO

6

17

-4

12

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32

-1

7

2

Do these data indicate that the population mean percentage increase in corporate revenue is greater than the population mean percentage increase in CEO salary? Use a 5% level of significance. What is the p-value associated with this test of hypothesis? Place your answer, rounded to 3 decimal places, in the blank. For example, 0.134 would be a legitimate entry.

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