Confidence Intervals and Hypothesis Testing.
Assume once again that you are a consultant who works for the Diligent Consulting Group. You are continuing to work on the analysis of the customer database from Module 1. 1.Generate a 95% confidence interval for the following two variables by hand: “Annual Amount Spent on Organic Food” and “Age.” 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. 3.Interpret the confidence intervals for each of the variables. 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? 5. Submit a written analysis on the results