In Order to Estimate the Difference Between the Yearly Incomes $\alpha$

question 59

Essay

In order to estimate the difference between the yearly incomes of marketing managers in the East and West of the United States, the following information was gathered.
a.Develop an interval estimate for the difference between the average yearly incomes of the marketing managers in the East and West. Use $\alpha$ = 0.05.
b.At 95% confidence, use the p-value approach and test to determine if the average yearly income of marketing managers in the East is significantly different from the West.

---

Definitions:

Ovaries

Female reproductive organs that produce eggs and hormones, such as estrogen and progesterone.

Stereotype

A set of simplistic, rigidly held, overgeneralized beliefs about a particular type of individual or group of people, an idea, and so on.

Factual Statement

A statement that can be proven true or false, based on objective evidence.

Value Judgment

An evaluation as “good” or “bad” based on moral or ethical standards rather than objective ones.