Develop an interval estimate for the difference between the average yearly incomes of the marketing managers in the East and West Use a= 05. At 95% confidence, use the p value approach and test to determine if the average b. yearly income of marketing managers in the East is significantly ditfferent from the. West

A First Course in Probability (10th Edition)
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ISBN:9780134753119
Author:Sheldon Ross
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Chapter1: Combinatorial Analysis
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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
West
n1= 40
I1=72 (in $1000s) 2= 78 (in $1000s)
51 =6 (in $1000s)
n2= 45
s2 = 8 (in $1000s)
Develop an interval estimate for the difference between the average yearly incomes of
the marketing managers in the East and West. Use a = .05.
At 95% confidence, use the p-value approach and test to determine if the average
a.
b.
yearly income of marketing managers in the East is significantly different from the
West
Transcribed Image Text: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 West n1= 40 I1=72 (in $1000s) 2= 78 (in $1000s) 51 =6 (in $1000s) n2= 45 s2 = 8 (in $1000s) Develop an interval estimate for the difference between the average yearly incomes of the marketing managers in the East and West. Use a = .05. At 95% confidence, use the p-value approach and test to determine if the average a. b. yearly income of marketing managers in the East is significantly different from the West
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