Question: In order to estimate the difference between the yearly incomes of marketing managers in the east and west of the united states, the following information
In order to estimate the difference between the yearly incomes of marketing managers in the east and west of the united states, the following information was gathered:
East
N1-40
=72 (in $1,000)
S1=6 (in $1,000)
West
N2=45
=78 (in $1,000)
S2=8 (in $1,000)
Question (1) Develop an interval estimate for the difference between the average yearly incomes of the marketing managers in the east and west - use a=0.05
Question (2) 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
I need help knowing to figure this out and show my work.
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
