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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A: The question is about confidence interval Given : Data :   To find : 95 % CI

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Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.