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. EastWestn1 = 40n2 = 45 = 72 (in $1000) = 78 (in $1000)s1 = 6 (in $1000)s2 = 8 (in $1000)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.b.At α = .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.

Given information- We have given two sample of the average yearly incomes of marketing managers in…

Answered: In order to estimate the difference…

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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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 = 40	n₂ = 45
= 72 (in $1000)	= 78 (in $1000)
s₁ = 6 (in $1000)	s₂ = 8 (in $1000)

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.
b.	At α = .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.

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