4. ple would like to determine if they have a higher retention rate for their employees than the industry average of 4.3 years. data can be found in the worksheet, employee retention. assume α = 0.01. a. which statistical analysis should be used to answer this question? b. what are the null and alternative hypotheses? c. conduct the appropriate statistical analysis on excel or statcrunch. provide a copy of your output. d. using your output, what is the p-value? e. using your output, what is the test statistic? f. what is your decision? g. based on your decision, what is your conclusion?

Costco wholesale corporation operates membership warehouses selling food, appliances, consumer electronics, apparel and other household goods at 471 locations across the u.s. as well as in canada, mexico and puerto rico. as of its fiscal year-end 2005, costco had approximately 21.2 million members. selected fiscal-year information from the company's balance sheets follows. ($ millions). selected balance sheet data 2005 2004 merchandise inventories $4,015 $3,644 deferred membership income (liability) 501 454 (a) during fiscal 2005, costco collected $1,120 cash for membership fees. use the financial statement effectstemplate to record the cash collected for membership fees. (b) in 2005, costco recorded $46,347 million in merchandise costs (that is, cost of goods sold). record thistransaction in the financial statement effects template. (c) determine the value of merchandise that costco purchased during fiscal-year 2005. use the financial statementeffects template to record these merchandise purchases. assume all of costco's purchases are on credit.