Compute the p-value and interpret

Assignment Help Other Subject

Reference no: EM13165879

Our manager has speculated the following:

the average (mean) annual income was less than $50,000,
the true population proportion of customers who live in an urban area exceeds 40%,
the average (mean) number of years lived in the current home is less than 13 years,
the average (mean) credit balance for suburban customers is more than $4300.

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 α = .05, and explain your conclusion in simple terms. Also be sure to compute the p-value and interpret.

Follow this up with computing 95% confidence intervals for each of the variables described in a.-d., and again interpreting these intervals.
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. Clear explanations and interpretations are critical.

Reference no: EM13165879

Questions Cloud

Dangerous and turn out not to be dangerous : Most associated with punishing those who are considered most dangerous and turn out not to be dangerous is:

Laboratory tests-epidemiology department luncheon : An outbreak of salmonellosis occurred after an epidemiology department luncheon, which was attended by 485 faculty and staff. Assume everyone ate the same food items.

Promote therapeutic session for a drug addict : Techniques you would implement to promote therapeutic session for a drug addict?

Piaget’s formal operational stage : What could parents and teachers possibly do to facilitate cognitive development in Piaget’s Formal Operational stage?

Compute the p-value and interpret : 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.

Development office when referencing events : We used two terms in our development office when referencing events: fundraisers and friend-raisers. If you are a non-profit CEO, is there a difference?

Non-founder religion : Which of the following is a non-founder religion?

Nonprofit organization : In public relations, what are some basic strategies that can be used by a nonprofit organization?

Responsible media consumption : How does media literacy help with responsible media consumption?

User Account

All Pages