A national business magazine reports that the mean age of retirement for women executives is 61. A women’s rights organization believes this value does not accurately depict the current trend in retirement. To test this, the group polled a random sample of 61 recently retired women executives and found that they had a mean retirement age of 61.5 with a standard deviation of 2.5 years. The data showed a right skewed distribution with no outliers.
Step 1: Write the null and alternative hypotheses. Determine if the test is one-tailed, or two-tailed and whether you should a z or a t test.