Can anyone help me with this??
2. CEO pay. A study of the pay of corporate chief executive ocers (CEOs) examined the increase in cash compensation of the CEOs of 104 companies, adjusted for inflation, in a recent year. The mean increase in real compensation was x = 6.9 percent and the standard deviation of the increases was s = 55 percent. Is this good evidence that the mean real compensation of all CEOs increased that year? To answer this question conduct a hypothesis test of the above situation using a signicance level of = 0.05:
(a) State the null and the alternative hypothesis.
(b) Calculate the value of the test statistic.