# Your manager has speculated the following: - 94854

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## shri21

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Your manager has speculated the following: a. the average (mean) annual income was less than \$50,000, b. the true population proportion of customers who live in an urban area exceeds 40%, c. the average (mean) number of years lived in the current home is less than 13 years, d. the average (mean) credit balance for suburban customers is more than \$4300. 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 managerâ€™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.
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