Question: In order to estimate the difference between the average yearly incomes of marketing managers in the East and West of the United States, the following

 In order to estimate the difference between the average yearly incomes

In order to estimate the difference between the average yearly incomes of marketing managers in the East and West of the United States, the following information was gathered. East West n1 = 38 n2 = 42 x1 = 66 (in $1,000) X2 = 72 (in $1,000) $1 = 6 (in $1,000) $2 = 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 98% confidence. (Use East - West. Round your answers to three decimal places.) At a = 0.02, use the p-value approach and test to determine if the average yearly income of marketing managers in the East is significantly different from those in the West. (Let d = East - West.) (i) Formulate the hypotheses. O HO: H 1 - H 2 = 0 Ha : M 1 - 1 2 = 0 Ho: M 1 - 1 2 > o OH: M 1 - M2so HO : H 1 - H 2 + 0 OH2: M1 - M 2 = 0 Ho : H 1 - M 2 so OH: M 1 - M 2 = 0 Ho : M 1 - M 2 so OH: M 1 - M 2 > o (ii) What is the value of the test statistic? (Round your answer to three decimal places.) (iii) What is the p-value? (Round your answer to five decimal places.) p-value =

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