Find average yearly income using p-value approach

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Reference no: EM13123105

In order to estimate the yearly incomes of marketing managers in the East and West of the United States, the following information was gathered: East West
n1 = 40 n2=45
x1 =72 (in $1,000) x2 =78 (in $1,000)
s1 = 6 (in $1,000) s2 = 8 (in $1,000)

a. Develop an interval estimate for the difference between the average yearly incomes of the marketing managers in the East and West. Use = 0.05

b. At 95% confidence, use the p-value approach and test to determine if the average yearly income of marketing managers in the East is significantly different from the West.

Reference no: EM13123105

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