Project Part B: Hypothesis Testing and Confidence Intervals - 94961

Solution Posted by
Solution Detail
Price: $40.00
Request Description
Project Part B: Hypothesis Testing and Confidence Intervals Location Income ($1,000) Size Years Credit Balance ($) Rural 25 4 2 2047 Rural 30 5 5 2660 Rural 33 6 10 2766 Rural 30 6 9 2697 Rural 33 6 11 2914 Rural 33 7 13 3104 Rural 36 7 13 3178 Rural 38 7 15 3203 Rural 40 7 15 3250 Rural 45 8 16 3257 Rural 45 8 17 3304 Rural 47 8 18 3342 Rural 53 8 18 3788 Suburban 25 1 1 3155 Suburban 26 1 2 3913 Suburban 32 2 4 4082 Suburban 32 2 4 4310 Suburban 35 3 5 4456 Suburban 42 3 5 4925 Suburban 44 3 6 4947 Suburban 46 4 6 5003 Suburban 49 5 8 5148 Suburban 57 6 8 5220 Suburban 57 7 9 5283 Suburban 64 8 9 5332 Suburban 65 8 10 5484 Suburban 66 8 10 5756 Suburban 69 8 10 5861 Urban 27 1 2 2631 Urban 29 1 3 3531 Urban 30 1 4 3769 Urban 34 1 6 3806 Urban 35 1 8 4049 Urban 40 1 9 4073 Urban 42 2 10 4073 Urban 43 2 10 4199 Urban 43 2 10 4253 Urban 47 2 10 4293 Urban 54 2 11 4340 Urban 57 3 11 4391 Urban 54 3 8 4354 Urban 54 3 10 4366 Urban 60 4 11 4402 Urban 58 4 10 4397 Urban 61 5 13 4595 Urban 61 5 13 4786 Urban 62 6 14 4888 Urban 68 6 14 5011 Urban 71 7 15 5528 Urban 74 7 19 5553 1.Using the sample data, perform the hypothesis test for each of the above situations in order to see if there is evidence to support your manager’s belief in each case a.-d. In each case use the Seven Elements of a Test of Hypothesis, in Section 6.2 of your text book with ? = .05, and explain your conclusion in simple terms. Also be sure to compute the p-value and interpret. 2.Follow this up with computing 95% confidence intervals for each of the variables described in a.-d., and again interpreting these intervals. • The average (mean) annual income was greater than $45,000 •the true population proportion of customers who live in an urban area is less than 45%, •the average (mean) number of years lived in the current home is greater than 8 years •the average (mean) credit balance for suburban customers is less than $3,200 3.Write a report to your manager about the results, distilling down the results in a way that would be understandable to someone who does not know statistics.
Solution Description
<
Attachments
Follow_this_up_with_computing_95__confidence_intervals_for_each_of_the_variables.doc
Follow_this_up_...