Question
5.- The New York Stock Exchange reported that the average number of shares in direct possession of senior citizens is 4.3, compared to 2.0 shares
5.- The New York Stock Exchange reported that the average number of shares in direct possession of senior citizens is 4.3, compared to 2.0 shares for "young millionaires." Suppose that the data in the shares file contains the number of shares owned by the people in a sample of each age group. Based on the results of a two-tailed test with a level of 0.10, comment on whether the difference between the sample means could have occurred by chance. Identify and interpret the p-value for the test.
shares file information:
Seniors | Boomers |
4 | 5 |
3 | 1 |
4 | 0 |
2 | 2 |
3 | 2 |
5 | |
6 | |
3 | |
7 | |
6 |
6.- With the results of the sample from exercise 5, develop and interpret the 90% confidence interval for the difference between the population means. Is the hypothetical difference (0.00) within the range? Given the presence or absence of the value 0.00 within the interval, does this coincide with the results of the hypothesis test carried out in the previous exercise?
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