Problem N°1 1.Formulate the null and alternative hypotheses. Null Hypothesis: The average (mean) annual income was greater than or equal to $50‚000 H_0: μ≥50000 Alternate Hypothesis: The average (mean) annual income was less than $50‚000. H_a: μ 30 we will use the z-test. As Ha:μ0.40 the‚ test is a right tailed z-test. The critical value for significance level‚ α=0.05 for a right tailed z-test is given in the table as: 1.645. Decision Rule: Reject H_0‚if z>1.645 3. Calculate the test
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PROJECT PART C: Regression and Correlation Analysis Math-533 Applied Managerial Statistics Prof. Jeffrey Frakes December 12‚ 2014 Jared D Stock 1. Generate a scatterplot for income ($1‚000) versus credit balance ($)‚ including the graph of the best fit line. Interpret. This scatter plot graph is a representation of combining income and credit balance. It shows the income increasing as the credit balance increases. As a result of this data it can be inferred that there is
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AJ Davis Department Stores - Project Part A‚ B‚ and C Stacie Borowicz June 14‚ 2013 Math 533 Project Part A – Exploratory Data Analysis Credit Balance ($) Based on a sample of 50 customers‚ the credit balance for customers of Davis Department stores is on average $3970.00. Based on the graph‚ 18 of the 50 sampled fall below and 17 fell above the average. The standard deviation for credit balance is 931.9. Income Annual Income of Davis Department Stores customers range anywhere
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A. Brief Introduction There are 50 credit customers who were selected for the data collection on five variables such as location‚ income‚ size‚ years‚ and credit balance. In order to understand more about their customer‚ AJ DAVIS must use graphical‚ numerical summary to be able to interpret and better expand their business in the future. B. Discuss your 1st individual variable‚ using graphical‚ numerical summary and interpretation A histogram shows the distribution of data within the Income.
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AJ Davis Department Store Part B AJ Davis Department Store Introduction The following information will show whether or not the manager’s speculations are correct. He wants to know the following information: Is the average mean greater than $45‚000? Does the true population proportion of customers who live in an urban area exceed 45%? Is the average number of years lived in the current home less than 8 years? Is the credit balance for suburban customers more than $3200? Hypothesis testing and confidence
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Summary: AJ Davis department store has asked to take a look at a sample of customers (sample size: 50) in order to more efficiently generate sales and also appeal to their more profitable segment. In order to better understand their customers a statistical analysis and interpretation must be performed. AJ Davis is hoping to achieve insight on how to improve their department store operations and strengthen their customer loyalty. We have taken both quantifiable and qualitative information and
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August 26‚ 2012 MATH 533 Course Project Part C Professor Khago Introduction: The following report displays regression and correlation analysis for AJ Davis Department Stores data on credit balance and size. We will use the data collected from 50 credit customers to complete the following analysis; * Generate a scatterplot for CREDIT BALANCE vs. SIZE‚ including the graph of the "best fit" line. Interpret. * Determine the equation of the "best fit" line‚ which describes the relationship
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The following report presents the detailed statistical analysis of the data collected from a sample of credit customers in the department chain store AJ DAVIS. The 1st individual variable considered is Location. It is a qualitative variable. The three subcategories are Urban‚ Suburban and Rural. Since this is a qualitative variable‚ the measures of central tendency and descriptive statistics has not been computed for this variable. The frequency distribution and pie chart are given as follows:
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Statistical Report The Relationships between Location‚ Income‚ and Credit Balance for the customers of AJ Davis Department Store Math 533 Course Project Part A AJ DAVIS DEPARTMENT STORES AJ Davis Department Store Customer Research A. Brief Introduction The department store AJ Davis would like to find out more information about their customers. A sample of 50 credit customers is selected with data collected on the following five variables: 1. LOCATION (Rural‚ Urban‚ Suburban)
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PROJECT PART B: Hypothesis Testing and Confidence Intervals Math-533 Applied Managerial Statistics Prof. Jeffrey Frakes December 8‚ 2014 Jared D Stock A.) The average (mean) annual income was greater than $45‚000 Null Hypothesis: The average (mean) annual income is greater than or equal to $45‚000. Ho: u > $45‚000 Alternative Hypothesis: The average (mean) annual income was less than $45‚000 Ha: u < $45‚000 I will use a = .05 as the significance level‚ and observing the
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