A firms corporoate strategy is driven largely by its top management team. One me

Question

A firms corporoate strategy is driven largely by its top management team. One method of gauging the influcence of marketing on corporate strategy is to measure the propotion of tirms with a chief marketing officer on their top management team. Ove the 5-year period from 2000 to 2004, 42% of firms had a chief marketing officer on their top management team.

Let p be the true proportion of firms witha chief marketing officer currently on their top management team. To conduct the hypothesis test, the null and alternative hypotheses are formulated as

H0: ____________ and Ha: _______________.

If the null hypothesis is true, the sampling distribution fo the sample proportion p can be approximated by ____________( a normal distribution, binomial distribution, a t-distribution with 74 degrees of freedom, t-distribution with 75 degrees of freedom) with a mean of _________( .3200, .24, unknown, .42 ) and a standard deviaton of ____________(.0032, .0570, .4936, 74 ).

The test statistic is ______.

What is the rejection rule using the crital value approach?

Reject Ho if __________________.

The p-value is _______.

Using the ciritcal value approach, the null hypothesis is ____________(rejected, not rejected) because _________. Using the p-value apprach, the null hypotheses is __________(rejected, not rejected) because _____________. Therefore, you ______________(can, cannot) conclude that the influence of marketing on corportate strategy today is different from its influence in the 2000-2004 period.

Explanation / Answer

a)

Formulating the null and alternatuve hypotheses,          
          
Ho:   p   =   0.42
Ha:   p   =/=   0.42 [ANSWER]

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b)

If the null hypothesis is true, the sampling distribution fo the sample proportion p can be approximated by ____________( a normal distribution, with a mean of _________(.42 ) and a standard deviaton of ____________(0570). [ANSWER]

As we see, the hypothesized po =   0.42      
Getting the point estimate of p, p^,          
          
p^ = x / n =    0.32      
          
Getting the standard error of p^, sp,          
          
sp = sqrt[po (1 - po)/n] =    0.056991227      

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c)
          
Getting the z statistic,          
          
z = (p^ - po)/sp =    -1.754656016   [ANSWER, TEST STATISTIC]

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d)

As alpha = 0.05, two tailed,

Reject Ho if z < -1.96 or z > 1.96. [ANSWER]

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e)  
          
As this is a    2   tailed test, then, getting the p value,  
          
p =    0.079318164   [ANSWER, P VALUE]

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f)

Using the ciritcal value approach, the null hypothesis is ____________(not rejected) because _________. [[ -1.96 < z < 1.96]]

Using the p-value apprach, the null hypotheses is __________(not rejected) because _____________. [[P > 0.05]]

Therefore, you ______________(cannot) conclude that the influence of marketing on corportate strategy today is different from its influence in the 2000-2004 period.  

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