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Assume once again that you are a consultant who works for the Diligent Consulting Group. Generate a 95% confidence interval for the following two variables
Assume once again that you are a consultant who works for the Diligent Consulting Group.
- Generate a 95% confidence interval for the following two variables by hand: "Annual Amount Spent on Organic Food" and "Age."
- 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.
- Interpret the confidence intervals for each of the variables.
- 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?
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Consumer Behavior Building Marketing Strategy
Authors: Delbert Hawkins, David Mothersbaugh
12th edition
978-0073530048, 73530042, 77645553, 978-0077645557
