Your manager has speculated the following

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our manager has speculated the following:

  1. the average (mean) annual income was less than $50,000,
  2. the true population proportion of customers who live in an urban area exceeds 40%,
  3. the average (mean) number of years lived in the current home is less than 13 years,
  4. 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 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.

    LOCATION

    INCOME($1000)

    SIZE

    YEARS

    CREDIT BALANCE($)

    Rural

    30

    2

    12

    3159

    Rural

    31

    2

    4

    1864

    Rural

    37

    1

    20

    2731

    Rural

    27

    1

    19

    2477

    Rural

    33

    2

    12

    2514

    Rural

    44

    1

    7

    2995

    Rural

    42

    2

    19

    3020

    Rural

    30

    1

    14

    2583

    Rural

    48

    2

    8

    3866

    Rural

    50

    2

    11

    3605

    Rural

    35

    1

    11

    3121

    Rural

    27

    2

    1

    2921

    Rural

    30

    2

    14

    3067

    Rural

    22

    4

    16

    3074

    Suburban

    32

    4

    17

    5100

    Suburban

    50

    5

    14

    4742

    Suburban

    66

    4

    10

    4764

    Suburban

    63

    4

    13

    4965

    Suburban

    62

    6

    13

    5678

    Suburban

    55

    7

    15

    5301

    Suburban

    54

    6

    14

    5573

    Suburban

    67

    4

    13

    5037

    Suburban

    22

    3

    18

    3579

    Suburban

    39

    2

    18

    2972

    Suburban

    54

    3

    9

    3730

    Suburban

    23

    6

    18

    4127

    Suburban

    61

    2

    14

    4273

    Suburban

    46

    5

    13

    4820

    Suburban

    66

    4

    20

    5149

    Urban

    54

    3

    12

    4016

    Urban

    55

    2

    9

    4070

    Urban

    40

    2

    7

    3348

    Urban

    51

    3

    16

    4110

    Urban

    25

    3

    11

    4208

    Urban

    48

    4

    16

    4219

    Urban

    65

    3

    12

    4214

    Urban

    42

    6

    15

    4412

    Urban

    21

    2

    18

    2448

    Urban

    37

    5

    5

    4171

    Urban

    21

    3

    16

    3623

    Urban

    41

    7

    18

    4828

    Urban

    34

    5

    5

    3586

    Urban

    67

    5

    1

    5345

    Urban

    55

    6

    16

    5370

    Urban

    52

    2

    11

    3890

    Urban

    62

    3

    2

    4705

    Urban

    64

    2

    6

    4157

    Urban

    29

    4

    4

    3890

    Urban

    39

    4

    15

    4183

    Urban

    26

    7

    17

    4603

    • 8 years ago
    Your manager has speculated the following
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