8 A recent report clamed that Amenicans are retiring later i

8. A recent report clamed that Amenicans are retiring later in lfe (U.S from 62 To conduct the reevannest, she takes arandom sample of 38 Americans who have recently retired and computes the value of the test statistic as she News & World Report, August 17, 2011), An economist wishes to determine if the mean retrement age has increased r-= 1 .92 with a-o 05. O Rejects the null hypothesis and concludes that the mean retrement age has increased O Does not reject the null hypothess and does not conclude that the mean retirement age has O Rejects the null hyposhesis and concludes that the mean retirement age has not increased O Does not reyect the null hypothesis and does not conclude that the mean retirement age has increased

Solution

Since economist wishes to determined whether the mean retirement age has increased , it is right tailed test

n = 38

pvalue =0.0313

We use excel function tdist(1.92,38-1,1) to find pvalue

Since pvalue is < 0.05 we reject Ho and conclude that mean retirement age has increased

Answer is a