Math 533 - 2086 Words

Brief Introduction: AJ Davis is a department store chain, which has many credit customers and want to find out more information about these customers. AJ Davis has complied a sample of 50 credit customers with data selected in the following variables: Location, Income (in $1,000’s), Size (Number of people living in the household), Years (number of years the customer has lived in the current location), and Credit Balance (customers current credit card balance on the store’s credit car, in $). The manager at AJ Davis has speculated the following: a. The average (mean) annual income was less than $50,000. b. The true population proportion of customers who live in an urban area exceeds 40% c. The average (mean) number of†¦show more content†¦* My calculated test statistic of -2.07 falls in the rejection region of z lt; -0.1645, therefore, I would reject the null hypothesis and say there is sufficient evidence to indicate ult;50 or $50,000. b. The true population proportion of customers who live in an urban area exceeds 40% * 22 of the 50 surveyed live in the Urban area, which is 44% or 0.44, this is the point estimate for p. * Therefore my hypothesis would be * Ho: = 0.40 vs. Ha: pgt;0.40 * In order to conduct the large sample z-test, we first need to verify that the sample size is large enough. * nPo= 50(0.40) = 20 and 50 (1-0.44) = 30, both are larger than 15, so we can conclude that sample size is large enough to apply the large sample z test. * Z= (0.44 – 0.400)/ 0.69282= 0.58 where s phat= sqrt (((0.40) (0.60))/50= 0.069282 * This is a one tailed (upper or right since HA has â€Å"gt;†). Our rejection regions would be z gt; 1.645. * 0.58 is not greater than 1.645 (and is not in the rejection regions) so we would not Reject the Ho. * The p-value= 0.282. The p-value is another complementary and equally valid way we can evaluate the null and alternative hypotheses is by looking at the p-value and compare the p-value to alpha. If the p-value is less than alpha, reject the null hypothesis and accept the alternativeShow MoreRelatedMath 533 Part B1210 Words   |  5 Pagesï » ¿ PROJECT PART B: Hypothesis Testing and Confidence Intervals Math-533 Applied Managerial Statistics Prof. Jeffrey Frakes December 8, 2014 Jared D Stock A.) The average (mean) annual income was greater than $45,000 Null Hypothesis: The average (mean) annual income is greater than or equal to $45,000. Ho: u $45,000 Alternative Hypothesis: The average (mean) annual income was less than $45,000 Ha: u $45,000 I will use a = .05 as the significance level, andRead MoreMath 533 Part C1131 Words   |  5 Pagesï » ¿ PROJECT PART C: Regression and Correlation Analysis Math-533 Applied Managerial Statistics Prof. Jeffrey Frakes December 12, 2014 Jared D Stock 1. Generate a scatterplot for income ($1,000) versus credit balance ($), including the graph of the best fit line. Interpret. This scatter plot graph is a representation of combining income and credit balance. It shows the income increasing as the credit balance increases. As a result of this data it can be inferred that thereRead MoreEssay on Math 533 Final Exm1741 Words   |  7 PagesMATH 533 Final Exm Click Link Below To Buy: http://hwcampus.com/shop/math-533-final-exm/ Or Visit www.hwcampus.com 1. (TCO A)Consider the following sample data on the age of the 30 employees that were laid off recently from DVC Inc. 21 38 20 26 37 52 37 24 45 20 50 49 44 30 29 42 56 46 60 30 32 25 47 55 38 Read MoreMath 533 Part C Essay2020 Words   |  9 PagesAugust 26, 2012 MATH 533 Course Project Part C Professor Khago Introduction: The following report displays regression and correlation analysis for AJ Davis Department Stores data on credit balance and size. We will use the data collected from 50 credit customers to complete the following analysis; * Generate a scatterplot for CREDIT BALANCE vs. SIZE, including the graph of the best fit line. Interpret. * Determine the equation of the best fit line, which describes the relationshipRead MoreEssay on Math 533 - Course Project Part a948 Words   |  4 PagesAJ DAVIS is a department store chain, which has many credit customers and wants to find out more information about these customers. A sample of 50 credit customers is selected with data collected on the following five variables: LOCATION (Rural, Urban, Suburban) INCOME (in $1,000s – be careful with this) SIZE (Household Size, meaning number of people living in the household) YEARS (the number of years that the customer has lived in the current location) CREDIT BALANCE (the customers currentRead MoreMath 533 Course Project Part B Essay1482 Words   |  6 PagesAJ DAVIS AJ DAVIS MATH 533 Project Consumer Tel – 123-456-7891 July 21st 2013 MATH 533 Project Consumer Tel – 123-456-7891 July 21st 2013 Lakshan Nanayakkara AJ DAVIS is a department store chain, which has many credit customers. A sample of 50 credit customers is selected with data collected on location, income, credit balance, number of people and years lived in the house Lakshan Nanayakkara AJ DAVIS is a department store chain, which has many credit customers. A sample of 50 creditRead MoreKeller Math 533 Project Part B1734 Words   |  7 PagesMath 533 Project Part B In regards to the dataset from AJ Department store, your manager has speculated the following: the average (mean) annual income is less than $50,000, the true population proportion of customers who live in an urban area exceeds 40%, the average (mean) number of years lived in the current home is less than 13 years, the average (mean) credit balance for suburban customers is more than $4300. Part 1. Using the sample data, performRead MoreMATH 533 Course Project Data AJ DAVIS1178 Words   |  5 Pagesï » ¿A. Brief Introduction There are 50 credit customers who were selected for the data collection on five variables such as location, income, size, years, and credit balance. In order to understand more about their customer, AJ DAVIS must use graphical, numerical summary to be able to interpret and better expand their business in the future. B. Discuss your 1st individual variable, using graphical, numerical summary and interpretation A histogram shows the distribution of data within the IncomeRead MorePart B Course Project Math 533 Essay1868 Words   |  8 PagesCourse Project Part B a. the average (mean) annual income was less than $50,000 Null and Alternative Hypothesis H0: mu= 50 (in thousands) Ha: mult;50 (in thousands) Level of Significance Level of Significance = .05 Test Statistic, Critical Value, and Decision Rule Since alpha = .05, zlt;-1.645, which is lower tailed Rejection region is, zlt;-1.645 Calculate test statistic, x-bar=43.74 and s=14.64 Z=(43.74-50)/2.070=-3.024 2.070 is calculated by: s/sq-root ofRead MoreMath 533 Week 2 Course Project: Aj Davis Department Stores (Part a)623 Words   |  3 PagesMATH 533 WEEK 2 COURSE PROJECT: AJ DAVIS DEPARTMENT STORES (PART A) To purchase this, Click here http://www.activitymode.com/product/math-533-week-2-course-project-aj-davis-department-stores-part-a/ Contact us at: SUPPORT@ACTIVITYMODE.COM MATH 533 WEEK 2 COURSE PROJECT: AJ DAVIS DEPARTMENT STORES (PART A) MATH 533 Week 2 Course Project: AJ Davis Department Stores (Part A) MATH 533 Week 2 Course Project: AJ Davis Department Stores (Part A) MATH 533 Week 2 Course Project: AJ Davis Department