Answered: A Bank wishes to determine the mean…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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A Bank wishes to determine the mean income of its credit card holders and more specifically wants to investigate whether there are any differences in the mean income between males and females. Confidence interval as a statistical inference method has been considered to respond this objective.
You are required to
1. Comment on the choice of confidence intervals as a statistical inference method for the above. Describe how you will proceed to determine the corresponding confidence intervals.
2 .Explain how you would use confidence intervals as evidence suggesting that in average males and females income differ.
Use Numerical examples to illustrate as and when required.
(Word count around 250 words)

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