Are America's top chief executive officers (CEOs) really worth all that money? One way to answer...

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Are America's top chief executive officers (CEOs) really worthall that money? One way to answer this question is to look at rowB, the annual company percentage increase in revenue, versus row A,the CEO's annual percentage salary increase in that same company.Suppose that a random sample of companies yielded the followingdata:
B: Percent for company 28 16 25 26 18 20 7 10
A: Percent for CEO 23 14 23 18 23 10 4 14
Do these data indicate that the population mean percentageincrease in corporate revenue (row B) is different from thepopulation mean percentage increase in CEO salary? Use a 5% levelof significance. Find (or estimate) the P-value.
Select one:
a. P-value = 0.50
b. P-value = 0.40
c. 0.02 < P-value < 0.05
d. 0.20 < P-value < 0.40
e. 0.01 < P-value < 0.02

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SolutionState the hypotheses The first step is tostate the null hypothesis and an alternative hypothesisNull hypothesis u1 u 2Alternative hypothesis u1u 2Note that these hypotheses constitute a twotailed testFormulate an analysis plan For this analysisthe See Answer

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