Hypothesis Testing

Data

Trident University
BUS520: Business Analytics and Decision Making
Module 2: SLP Template
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Please remember to save this file with your last name in the file name. For example: BUS520 Module 2 SLP Template, Doe.doc
Name:
Annual Amount Spent on Organic Food Age Annual Income Number of People in Household Gender (0 = Male; 1 = Female)
7348 77 109688 3 1
11598 47 109981 5 1
9224 23 112139 4 1
12991 38 113420 5 1
16556 58 114101 5 0
11515 44 115100 5 0
10469 34 116330 5 0
17933 75 116339 6 0
18173 32 117907 7 0
12305 39 119071 5 1
9080 65 58603 5 1
9113 48 58623 4 1
6185 48 61579 2 1
6470 49 62180 2 0
6000 57 62202 5 1
6760 71 68041 2 0
8579 47 68407 4 1
7393 47 69618 3 1
8161 28 73079 4 0
10800 63 75900 5 1
6160 24 77129 3 1
10800 66 79618 6 0
8543 24 81131 4 0
17666 38 86246 6 1
12644 54 89167 5 1
14308 28 89576 5 1
9737 58 92296 4 0
13301 27 93614 5 1
18106 48 93954 6 1
11468 26 95937 5 1
9547 52 100846 4 0
7812 29 103276 2 1
15521 75 104112 5 1
7598 45 105119 4 0
7783 74 105925 3 1
17737 56 106084 6 0
7824 30 108616 3 1
6552 57 109038 2 0
11232 41 109585 5 1
6540 23 37834 5 0
4200 28 38940 5 0
7225 23 42145 5 0
5370 45 48677 5 1
4476 33 48997 4 1
2800 42 49058 1 1
7839 39 49609 4 1
3472 60 53279 1 0
8854 57 53917 5 0
8900 41 54716 5 0
12791 67 126306 5 0
12712 73 130893 5 1
13321 57 134488 5 1
8802 64 135711 4 0
14369 24 139701 5 1
7908 25 142014 4 1
17840 34 142857 6 0
15107 78 143182 5 1
12070 34 150987 5 1
6389 34 152041 2 1
6606 41 154702 3 0
6291 62 155552 1 1
7425 57 157329 3 0
11436 23 163794 5 1
7612 78 164108 4 0
7515 36 165851 4 0
13115 44 172497 5 1
11870 75 174458 5 0
8450 70 177517 4 1
16324 38 183779 5 0
9331 35 185111 4 0
9184 65 186467 4 0
16803 68 189137 6 0
10709 48 194351 5 1
14456 24 194380 5 0
16634 46 197358 5 0
12227 43 197400 5 1
13476 58 198650 5 0
14554 66 202859 5 1
9393 68 203591 4 1
14594 74 206216 5 1
6628 32 207679 2 0
11240 61 210498 5 0
13101 42 210678 5 1
14034 60 211249 5 0
17837 64 211961 6 1
7849 53 212851 2 1
10578 62 213035 5 1
11325 78 214457 5 0
7105 44 215442 2 0
16460 58 220178 5 1
8390 27 220403 3 1
14956 68 220893 5 1
10903 21 221223 4 1
12054 70 221498 5 1
11697 38 222618 5 1
12781 25 229072 5 1
17456 30 229685 6 1
12835 70 230228 5 1
13403 37 235617 5 0
15051 40 238087 5 0
14225 29 240768 5 0
11196 54 242529 4 0
11475 52 243765 5 1
5605 65 244625 2 0
9890 72 245208 4 1
13227 40 247648 5 0
11200 36 249805 4 1
9600 43 252033 4 0
15703 38 252812 5 1
6486 73 257143 1 1
9430 41 258167 4 1
7755 35 258640 2 1
8100 21 261020 3 1
14821 59 266223 5 1
10650 56 266269 5 1
12589 42 267565 5 1
11600 46 268380 4 1
13000 34 269431 4 1
17065 70 269839 6 0
16500 55 270441 5 0
8600 38 272795 2 0
11900 51 274846 4 1
16723 66 276250 5 0
16759 43 277231 5 0

Question 1

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QUESTION 1: Generate a 95% confidence interval for the following two variables by hand: Annual Amount Spent on Organic Food and Age.
Average Annual Amount Spent on Organic Food (𝑥 ̅) Average Age (𝑥 ̅)
t-value from the t-table (t) t-value from the t-table (t)
standard deviation for this variable (s) standard deviation for this variable (s)
number of observations (n) number of observations (n)
Margin of Error ERROR:#DIV/0! Margin of Error ERROR:#DIV/0!
Upper Limit of Confidence Interval ERROR:#DIV/0! Upper Limit of Confidence Interval ERROR:#DIV/0!
Lower Limit of Confidence Interval ERROR:#DIV/0! Lower Limit of Confidence Interval ERROR:#DIV/0!

Questions 2-3

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QUESTION 2: Generate a 95% confidence interval for the following two variables using the Excel formula =CONFIDENCE.T(): Annual Income and Number of People in the Household. Remember, this formula will just give you the margin of error. You will still need to add it to the mean and subtract it from the mean to get the upper and lower limits of the confidence interval.
margin of error from the =CONFIDENCE.T() formula
Average Annual Income
Upper Limit of Confidence Interval 0
Lower Limit of Confidence Interval 0
margin of error from the =CONFIDENCE.T() formula
Average Number of People
Upper Limit of Confidence Interval 0
Lower Limit of Confidence Interval 0
QUESTION 3a: Interpret the confidence intervals for Average Annual Income.
QUESTION 3b: Interpret the confidence intervals for Average Number of People

Question 4

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QUESTION 4: The client insists the average income of his organic food customers is $150,000. Conduct a hypothesis test at the 0.10 level to test his statement. What is your decision?
Step 1: State the Null and Alternate Hypotheses
Null Hypothesis
Alternate Hypothesis
Step 2: Determine Alpha (Stated in Question) 0.10
Step 3: Determine Which Test Statistic Will Be Used
Step 4: Formulate a Decision Rule
Step 5: Make a Decision

Hint: This will be a 2-tail t-test.

 
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