n1= 40 n2= 45
x1= 72 (in $1000) x2= 78 (in $1000)
s1= 6 (in $1,000) s2= 8 (in $1000)
1. What is the point estimate between the two population means?
2. At 90% confidence, what is the margin of error?
3. What is the 90% confidence interval for the difference between the two population means?
4. Use P-value approaches to test to determine if the yearly average income of marketing managers in the East is significantly different from the west. a= 0.10
a) State the Null and Alternative Hypotheses
b) what is the value of the test statistic?
c) What is the critical value?
d) what is the p-value?
e) what is your conclusion regarding the null hypothesis?