Question
A marketing campaign data of 2,240 customers from Maven Marketing includes customer profiles, product preferences, campaign successes/failures, and channel performance. The goal is to estimate
A marketing campaign data of 2,240 customers from Maven Marketing includes customer profiles, product preferences, campaign successes/failures, and channel performance.
The goal is to estimate the mean (average) customer annual household income based on the given sample
Use the dataset clicking the following link: https://github.com/iswetha522/marketing-data/blob/main/marketing_new_data.csv, only focus on the income variable just for US customers.
2. Graph the histogram of the customers' annual household income and report a table with some summary statistics.
3. Find the point estimate of the customers' annual household income.
4. Construct 95% confidence interval for the customers' annual household income.
5. Verify the underlying assumptions for the confidence interval. For the normality assumption, you can use the qq-plot.
6. Interpret the 95% confidence interval result.
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