Project Part B: Hypothesis Testing and Confidence Intervals complete solutions correct answers key

Project Part B: Hypothesis Testing and Confidence Intervals complete solutions correct answers key

Your manager has speculated the following.

a. The average (mean) annual income was greater than $45,000.

b. The true population proportion of customers who live in a suburban area is less than 45%.

c. The average (mean) number of years lived in the current home is greater than 8 years.

d. The average (mean) credit balance for rural customers is less than $3,200.

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 α = .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.
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. Clear explanations and interpretations are critical.
4. All DeVry University policies are in effect, including the plagiarism policy.
5. Project Part B report is due by the end of Week 6.
6. Project Part B is worth 100 total points. See the grading rubric below.

Submission: The report from Part 3 and all of the relevant work done in the hypothesis testing (including minitab) in 1 and the confidence intervals (minitab) in Part 2 as an appendix

Format for report:

1. Summary report (about one paragraph on each of the speculations, A–D)
2. Appendix with all of the steps in hypothesis testing (the format of the Seven Elements of a Test of Hypothesis, in Section 6.2 of your text book) for each speculation A–D, as well as the confidence intervals, including all minitab output