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Words 1172

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a. The average (mean) annual income was less than $50,000

Null Hypothesis: The average annual income was greater than or equal to $50,000

H₀: µ > 50000

Alternate Hypothesis: The average annual income was less than $50,000.

Ha: µ > 50000

Analysis Plan: Significance Level, α=0.05.

Since the sample size, n > 30 I will use z-test for mean to test the given hypothesis.

As the alternative hypothesis is Ha: µ > 50000, the given test is a one-tailed z-test.

Critical Value and Decision Rule:

The critical value for significance level, α=0.05 for a lower-tailed z-test is given as-1.645.

Decision Rule: Reject H₀, if z – statistic, -1.645

Test Statistic - minitab

One-Sample Z: Income ($1000)

Test of mu = 50 vs < 50

The assumed standard deviation = 14.55

95% Upper

Variable N Mean StDev SE Mean Bound Z P

Income ($1000) 50 43.48 14.55 2.06 46.86 -3.17 0.001

Interpretation of Results and Conclusion:

Since the P-value (0.0001) is smaller than the significance level (0.05), we reject the null hypothesis. The p-value implies the probability of rejecting a true null hypothesis.

The significance level of 0.05, there is enough evidence to support the claim that the average annual income was less than $50,000.

Confidence Interval - minitab

One-Sample Z

The assumed standard deviation = 14.55

N Mean SE Mean 95% CI

50 43.48 2.06 (39.45, 47.51)

The 95% upper confidence limit is 47.51. Since, 50.00 lies beyond the 95% upper confidence limit, we can support the claim that the average annual income was less than $50,000.

b. The true population proportion of customers who live in an urban area exceeds 40% .

Null Hypothesis: The true population proportion of customers who live in an urban area is less than or equal to 40%.

H₀: p < 0.40

Alternate Hypothesis:…...

...Project Part B: Hypothesis Testing and Confidence Intervals | | Your manager has speculated the following: a. the average (mean) annual income was less than $50,000, b. the true population proportion of customers who live in an urban area exceeds 40%, c. the average (mean) number of years lived in the current home is less than 13 years, d. the average (mean) credit balance for suburban customers is more than $4300. 1. Using the sample data, perform the hypothesis test for each of the above situations in order to see if there is evidence to support your manager’s belief in each case a.-d. In each case use the Seven Elements of a Test of Hypothesis, in Section 6.2 of your text book with α = .05, and explain your conclusion in simple terms. Also be sure to compute the p-value and interpret. 2. Follow this up with computing 95% confidence intervals for each of the variables described in a.-d., and again interpreting these intervals. 3. Write a report to your manager about the results, distilling down the results in a way that would be understandable to someone who does not know statistics. Clear explanations and interpretations are critical. Project Part B: Hypothesis Testing and Confidence Intervals a. The average (mean) annual income was less than $50,000 Null Hypothesis: The average annual income was greater than or equal to $50,000 H₀: µ > 50000 Alternate Hypothesis: The average annual income was less than $50,000. Ha: µ >......

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...Maurice S. Butler Math533—Applied Managerial Statistics Course Project: Part A Introduction This project is based upon statistical data compiled concerning AJ Davis Department Stores, specific to a sample of its customer base. It is with intent of establishing relationship between location, gross income, and credit balances carried by customers that the following statistical analysis has been performed. It is assumed that information obtained as well as the interpretation of statistical analysis will enable credible recommendations in regard to future revenues or continued handling and/or maintenance of its receivables. Variables The first variable is the gross income of the stores’ customers. The data set includes 50 customers with gross income ranging from $20,000 to $79,000 per year. Compilation of the data into a frequency/relative frequency table (see below) reveals that the greatest frequency and relative frequency of the store’s customers is found within the $30,000 to $49,000 range. Fifty-two percent of the store’s customer base gross income is found within this range. First and third quartiles have been calculated to be 33 and 57 respectfully. However, no outliers have been identified within the data set. Income ($1000) | Frequency | Relative Frequency | 20-29 | 5 | 10% | 30-39 | 13 | 26% | 40-49 | 13 | 26% | 50-59 | 8 | 16% | 60-69 | 9 | 18% | 70-79 | 2 | 4% | | 50 | 100% | My second variable is the outstanding credit balances of...

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...Keller graduate school of management | Department Store part B | Week 6 project for AJ Davis | Information from the project for AJ Davis department store. Attached in this report is all information related to the information listed from Excel. | Results from Minitab findings The mean income was less than $50,000. The Null Hypothesis: which states the average annual income was greater than or equal to 50. The number of trials (n) is larger than 30 use ztest to check the hypothesis. With the Critical Value and decision rule: Reject H0 if Z –value is -1.645. By using the z-test the one sample z: results are as follows: z -3.02 p .001 mean 43.74. The p value .999 is larger than .05, so I would not reject the null hypothesis. The p value shows the probability of rejecting null hypothesis. The confidence level of .05 shows there is enough data to support the claim that the average annual income was less than $50,000. The confidence level at 99.5% is 38.41 and since 50 are above the 99.5% confidence level shows support for the claim that the mean income is less than $50,000. The proportion of customers who live in urban areas exceeds 40%. For this 21 out of the 50 people in the data live in an urban area. This equates to .42 so my point estimate would be .42 or 42%. The Ho: p=.40 vs. Ha: p >.40. z= .29. The reject area is z> 1.645; since .29 is less than 1.645 I would not reject Ho. The p value is .386. By not rejecting this is saying there is......

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...MATH 533 All Course Projects - December 2014 IF You Want To Purchase A+ Work Then Click The Link Below , Instant Download http://hwnerd.com/MATH-533-All-Course-Projects-December-2014-53954332.htm?categoryId=-1 If You Face Any Problem E- Mail Us At Contact.Hwnerd@Gmail.Com Course Project: AJ DAVIS DEPARTMENT STORES Introduction Your Instructor will provide you with a Case description and data set in Doc Sharing. PROJECT PART A: Exploratory Data Analysis • Open the files for the Course Project and the data set in Doc Sharing. • For each of the five variables, process, organize, present and summarize the data. Analyze each variable by itself using graphical and numerical techniques of summarization. Use MINITAB as much as possible, explaining what the printout tells you. You may wish to use some of the following graphs: stem-leaf diagram, frequency/relative frequency table, histogram, boxplot, dotplot, pie chart, bar graph. Caution: not all of these are appropriate for each of these variables, nor are they all necessary. More is not necessarily better. In addition be sure to find the appropriate measures of central tendency, the measures of dispersion, and the shapes of the distributions (for the quantitative variables) for the above data. Where appropriate, use the five number summary (the Min, Q1, Median, Q3, Max). Once again, use MINITAB as appropriate, and explain what the results mean. • Analyze the connections or relationships between the......

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...MATH 533 All Course Projects - December 2014 IF You Want To Purchase A+ Work Then Click The Link Below , Instant Download http://hwnerd.com/MATH-533-All-Course-Projects-December-2014-53954332.htm?categoryId=-1 If You Face Any Problem E- Mail Us At Contact.Hwnerd@Gmail.Com Course Project: AJ DAVIS DEPARTMENT STORES Introduction Your Instructor will provide you with a Case description and data set in Doc Sharing. PROJECT PART A: Exploratory Data Analysis • Open the files for the Course Project and the data set in Doc Sharing. • For each of the five variables, process, organize, present and summarize the data. Analyze each variable by itself using graphical and numerical techniques of summarization. Use MINITAB as much as possible, explaining what the printout tells you. You may wish to use some of the following graphs: stem-leaf diagram, frequency/relative frequency table, histogram, boxplot, dotplot, pie chart, bar graph. Caution: not all of these are appropriate for each of these variables, nor are they all necessary. More is not necessarily better. In addition be sure to find the appropriate measures of central tendency, the measures of dispersion, and the shapes of the distributions (for the quantitative variables) for the above data. Where appropriate, use the five number summary (the Min, Q1, Median, Q3, Max). Once again, use MINITAB as appropriate, and explain what the results mean. • Analyze the connections or relationships between the......

Words: 1527 - Pages: 7

...MATH 533 All Course Projects - December 2014 IF You Want To Purchase A+ Work Then Click The Link Below , Instant Download http://hwnerd.com/MATH-533-All-Course-Projects-December-2014-53954332.htm?categoryId=-1 If You Face Any Problem E- Mail Us At Contact.Hwnerd@Gmail.Com Course Project: AJ DAVIS DEPARTMENT STORES Introduction Your Instructor will provide you with a Case description and data set in Doc Sharing. PROJECT PART A: Exploratory Data Analysis • Open the files for the Course Project and the data set in Doc Sharing. • For each of the five variables, process, organize, present and summarize the data. Analyze each variable by itself using graphical and numerical techniques of summarization. Use MINITAB as much as possible, explaining what the printout tells you. You may wish to use some of the following graphs: stem-leaf diagram, frequency/relative frequency table, histogram, boxplot, dotplot, pie chart, bar graph. Caution: not all of these are appropriate for each of these variables, nor are they all necessary. More is not necessarily better. In addition be sure to find the appropriate measures of central tendency, the measures of dispersion, and the shapes of the distributions (for the quantitative variables) for the above data. Where appropriate, use the five number summary (the Min, Q1, Median, Q3, Max). Once again, use MINITAB as appropriate, and explain what the results mean. • Analyze the connections or relationships between the......

Words: 1527 - Pages: 7

Words: 1527 - Pages: 7

...MATH 533 All Course Projects - December 2014 IF You Want To Purchase A+ Work Then Click The Link Below , Instant Download http://acehomework.com/MATH-533-All-Course-Projects-December-2014-5459908.htm?categoryId=-1 If You Face Any Problem E- Mail Us At JOHNMATE1122@Gmail.Com Course Project: AJ DAVIS DEPARTMENT STORES Introduction Your Instructor will provide you with a Case description and data set in Doc Sharing. PROJECT PART A: Exploratory Data Analysis • Open the files for the Course Project and the data set in Doc Sharing. • For each of the five variables, process, organize, present and summarize the data. Analyze each variable by itself using graphical and numerical techniques of summarization. Use MINITAB as much as possible, explaining what the printout tells you. You may wish to use some of the following graphs: stem-leaf diagram, frequency/relative frequency table, histogram, boxplot, dotplot, pie chart, bar graph. Caution: not all of these are appropriate for each of these variables, nor are they all necessary. More is not necessarily better. In addition be sure to find the appropriate measures of central tendency, the measures of dispersion, and the shapes of the distributions (for the quantitative variables) for the above data. Where appropriate, use the five number summary (the Min, Q1, Median, Q3, Max). Once again, use MINITAB as appropriate, and explain what the results mean. • Analyze the connections or relationships between the......

Words: 1561 - Pages: 7

Words: 1527 - Pages: 7

...MATH 533 All Course Projects - December 2014 IF You Want To Purchase A+ Work Then Click The Link Below , Instant Download http://acehomework.com/MATH-533-All-Course-Projects-December-2014-5459908.htm?categoryId=-1 If You Face Any Problem E- Mail Us At JOHNMATE1122@Gmail.Com Course Project: AJ DAVIS DEPARTMENT STORES Introduction Your Instructor will provide you with a Case description and data set in Doc Sharing. PROJECT PART A: Exploratory Data Analysis • Open the files for the Course Project and the data set in Doc Sharing. • For each of the five variables, process, organize, present and summarize the data. Analyze each variable by itself using graphical and numerical techniques of summarization. Use MINITAB as much as possible, explaining what the printout tells you. You may wish to use some of the following graphs: stem-leaf diagram, frequency/relative frequency table, histogram, boxplot, dotplot, pie chart, bar graph. Caution: not all of these are appropriate for each of these variables, nor are they all necessary. More is not necessarily better. In addition be sure to find the appropriate measures of central tendency, the measures of dispersion, and the shapes of the distributions (for the quantitative variables) for the above data. Where appropriate, use the five number summary (the Min, Q1, Median, Q3, Max). Once again, use MINITAB as appropriate, and explain what the results mean. • Analyze the connections or relationships between the......

Words: 1561 - Pages: 7

...MATH 533 Course Project: AJ DAVIS DEPARTMENT STORES Purchase here http://devrycourse.com/math-533-course-project-aj-davis-department-stores Product Description MATH 533 Week 2 Course Project Part A - Exploratory Data Analysis MATH 533 Week 6 Course Project Part B - Hypothesis Testing and Confidence Intervals MATH 533 Week 7 Course Project Part C - Regression and Correlation Analysis MATH 533 Course Project: AJ DAVIS DEPARTMENT STORES Purchase here http://devrycourse.com/math-533-course-project-aj-davis-department-stores Product Description MATH 533 Week 2 Course Project Part A - Exploratory Data Analysis MATH 533 Week 6 Course Project Part B - Hypothesis Testing and Confidence Intervals MATH 533 Week 7 Course Project Part C - Regression and Correlation Analysis MATH 533 Course Project: AJ DAVIS DEPARTMENT STORES Purchase here http://devrycourse.com/math-533-course-project-aj-davis-department-stores Product Description MATH 533 Week 2 Course Project Part A - Exploratory Data Analysis MATH 533 Week 6 Course Project Part B - Hypothesis Testing and Confidence Intervals MATH 533 Week 7 Course Project Part C - Regression and Correlation Analysis MATH 533 Course Project: AJ DAVIS DEPARTMENT STORES Purchase here http://devrycourse.com/math-533-course-project-aj-davis-department-stores Product Description MATH 533 Week 2 Course Project Part A - Exploratory Data Analysis MATH 533 Week 6 Course Project Part B -......

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...MATH 533 Course Project: AJ DAVIS DEPARTMENT STORES Purchase here http://devrycourse.com/math-533-course-project-aj-davis-department-stores Product Description MATH 533 Week 2 Course Project Part A - Exploratory Data Analysis MATH 533 Week 6 Course Project Part B - Hypothesis Testing and Confidence Intervals MATH 533 Week 7 Course Project Part C - Regression and Correlation Analysis MATH 533 Course Project: AJ DAVIS DEPARTMENT STORES Purchase here http://devrycourse.com/math-533-course-project-aj-davis-department-stores Product Description MATH 533 Week 2 Course Project Part A - Exploratory Data Analysis MATH 533 Week 6 Course Project Part B - Hypothesis Testing and Confidence Intervals MATH 533 Week 7 Course Project Part C - Regression and Correlation Analysis MATH 533 Course Project: AJ DAVIS DEPARTMENT STORES Purchase here http://devrycourse.com/math-533-course-project-aj-davis-department-stores Product Description MATH 533 Week 2 Course Project Part A - Exploratory Data Analysis MATH 533 Week 6 Course Project Part B - Hypothesis Testing and Confidence Intervals MATH 533 Week 7 Course Project Part C - Regression and Correlation Analysis MATH 533 Course Project: AJ DAVIS DEPARTMENT STORES Purchase here http://devrycourse.com/math-533-course-project-aj-davis-department-stores Product Description MATH 533 Week 2 Course Project Part A - Exploratory Data Analysis MATH 533 Week 6 Course Project Part B -......

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...MATH 533 WEEK 6 COURSE PROJECT PART B To purchase this, Click here http://www.activitymode.com/product/math-533-week-6-course-project-part-b/ Contact us at: SUPPORT@ACTIVITYMODE.COM MATH 533 Week 6 Course Project Part B MATH 533 Week 6 Course Project Part B MATH 533 Week 6 Course Project Part B MATH 533 Week 6 Course Project Part B MATH 533 Week 6 Course Project Part B MATH 533 Week 6 Course Project Part B MATH 533 Week 6 Course Project Part B MATH 533 Week 6 Course Project Part B MATH 533 Week 6 Course Project Part B MATH 533 Week 6 Course Project Part B MATH 533 Week 6 Course Project Part B MATH 533 Week 6 Course Project Part B MATH 533 Week 6 Course Project Part B MATH 533 Week 6 Course Project Part B MATH 533 Week 6 Course Project Part B MATH 533 Week 6 Course Project Part B MATH 533 Week 6 Course Project Part B MATH 533 Week 6 Course Project Part B MATH 533 Week 6 Course Project Part B MATH 533 Week 6 Course Project Part B MATH 533 Week 6 Course Project Part B MATH 533 Week 6 Course Project Part B MATH 533 Week 6 Course Project Part B MATH 533 Week 6 Course Project Part B MATH 533 Week 6 Course Project Part B MATH 533 Week 6 Course Project Part B MATH 533 Week 6 Course Project Part B MATH 533 Week 6 Course Project Part B MATH 533 Week 6 Course Project Part B MATH 533 Week 6 Course Project Part B MATH 533 Week 6 Course Project Part B MATH 533 WEEK 6 COURSE PROJECT PART B To purchase this, Click......

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...MATH 533 All Course Projects - December 2014 IF You Want To Purchase A+ Work Then Click The Link Below , Instant Download http://acehomework.com/MATH-533-All-Course-Projects-December-2014-5459908.htm?categoryId=-1 If You Face Any Problem E- Mail Us At JOHNMATE1122@Gmail.Com Course Project: AJ DAVIS DEPARTMENT STORES Introduction Your Instructor will provide you with a Case description and data set in Doc Sharing. PROJECT PART A: Exploratory Data Analysis • Open the files for the Course Project and the data set in Doc Sharing. • For each of the five variables, process, organize, present and summarize the data. Analyze each variable by itself using graphical and numerical techniques of summarization. Use MINITAB as much as possible, explaining what the printout tells you. You may wish to use some of the following graphs: stem-leaf diagram, frequency/relative frequency table, histogram, boxplot, dotplot, pie chart, bar graph. Caution: not all of these are appropriate for each of these variables, nor are they all necessary. More is not necessarily better. In addition be sure to find the appropriate measures of central tendency, the measures of dispersion, and the shapes of the distributions (for the quantitative variables) for the above data. Where appropriate, use the five number summary (the Min, Q1, Median, Q3, Max). Once again, use MINITAB as appropriate, and explain what the results mean. • Analyze the connections or relationships between the......

Words: 1561 - Pages: 7

...a. The average (mean) annual income was less than $50,000 Null Hypothesis: The average annual income was greater than or equal to $50,000 H₀: µ > 50000 Alternate Hypothesis: The average annual income was less than $50,000. Ha: µ > 50000 Analysis Plan: Significance Level, α=0.05. Since the sample size, n > 30 I will use z-test for mean to test the given hypothesis. As the alternative hypothesis is Ha: µ > 50000, the given test is a one-tailed z-test. Critical Value and Decision Rule: The critical value for significance level, α=0.05 for a lower-tailed z-test is given as-1.645. Decision Rule: Reject H₀, if z – statistic, -1.645 Test Statistic - minitab One-Sample Z: Income ($1000) Test of mu = 50 vs < 50 The assumed standard deviation = 14.55 95% Upper Variable N Mean StDev SE Mean Bound Z P Income ($1000) 50 43.48 14.55 2.06 46.86 -3.17 0.001 Interpretation of Results and Conclusion: Since the P-value (0.0001) is smaller than the significance level (0.05), we reject the null hypothesis. The p-value implies the probability of rejecting a true null hypothesis. The significance level of 0.05, there is enough evidence to support the claim that the average annual income was less than $50,000. Confidence Interval - minitab One-Sample Z The assumed standard deviation = 14.55 ...

Words: 1146 - Pages: 5