SOLUTION: The following table gives the sample data from a survey on income of managing directors of the sampled companies both in Kenya and Tanzania.
Country Income (in Euros)
Kenya 5000
Algebra ->
Probability-and-statistics
-> SOLUTION: The following table gives the sample data from a survey on income of managing directors of the sampled companies both in Kenya and Tanzania.
Country Income (in Euros)
Kenya 5000
Log On
Question 1201808: The following table gives the sample data from a survey on income of managing directors of the sampled companies both in Kenya and Tanzania.
Country Income (in Euros)
Kenya 5000 4680 4500 3200 6845 6500 6065 5147 4365 3933
Tanzania 3540 6500 2700 3200 2760 6245 5544 5498 4367
(a) Test whether the mean income for each country is above 4000 Euros at 5% level of significance.
(10 mks)
(b) Construct the 95% confidence interval for the true mean income of Kenya. (5 mks)
You can put this solution on YOUR website! kenya had a mean of 5023.5 and a standard devition of 1092.6 with a sample size of 10.
tanzania had a mean of 4483.8 and a standard deviation of 1415.2 with a sample size of 9.
t-test for kenys indicated that the results were significant with the conclusion that the mean is above 4000.
the test t-value was 2.96228371332815.
the critical t-value at 95% one tailed condidence interval on the high end was 1.83.
the test t-value was greater than that, so the results were considered significant, indicating that the kenya mean was greater than 4000.
t-test for tanzania indicaed that there wasn't sufficient information to conslude that the mean is above 4000.
the test t-value was 1.0255794234030529.
the critical t-value at 95% one tailed confidence interval on the high end wass 1.83.
the test t-value was not greater than that, so the results were not considered significant, indicating that the tanzania mean was not greater than 4000.
95% confidence iterval for the true mean of kenya is from 441.9 to 5805.1.
here are the links to the results from the calculators that i used.
