A Recent Report Claimed That Americans Are Retiring Later in Life

question 108

Multiple Choice

A recent report claimed that Americans are retiring later in life (U.S.News & World Report,August 17,2011) .An economist wishes to determine if the mean retirement age has increased from 62.To conduct the relevant test,she takes a random sample of 38 Americans who have recently retired and computes the value of the test statistic as t₃₇ = 1.92.With α = 0.05,she ____________________________________________________.

• A) rejects the null hypothesis and concludes that the mean retirement age has increased
• B) rejects the null hypothesis and concludes that the mean retirement age has not increased
• C) does not reject the null hypothesis and does not conclude that the mean retirement age has changed
• D) does not reject the null hypothesis and does not conclude that the mean retirement age has increased

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Definitions:

Chocolate Consumed

The amount of chocolate intake by an individual or group over a specified period.

Automobile Accidents

Events involving motor vehicles that result in damage, injury, or fatalities.

Correlation

A mathematical gauge that captures the extent of simultaneous variation between two variables, revealing the power and trajectory of their interrelation.

Population Growth

The increase in the number of individuals in a population, typically measured as the change in population over time and influenced by factors such as birth rates, death rates, and migration patterns.