# Analytics and Decision Making Excel Spreadsheet

# Module 2 – SLP

## CONFIDENCE INTERVALS AND HYPOTHESIS TESTING

Assume once again that you are a consultant who works for the Diligent Consulting Group. You are continuing to work on the analysis of the customer database from Module 1.

### SLP Assignment Expectations

Complete the following tasks in the Module 2 SLP assignment template. Watch the following video for detailed, step-by-step instructions on completing this assignment:

- 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?

# Privacy Policy | ContactModule 2 – Background

## CONFIDENCE INTERVALS AND HYPOTHESIS TESTING

### Required Reading

The primary resource for this module is *Introductory Business Statistics*, by Alexander, Illowsky, and Dean.

Alexander, H., Illowsky, B., & Dean, S. (2017). *Introductory Business Statistics*. Openstax. Retrieved from https://openstax.org/details/books/introductory-business-statistics

For Module 2, you should read through the following material in this textbook. **There is quite a bit of detailed material in this module, so please start early.**

**Chapter 7: The Central Limit Theorem**

Sections 7.1 and 7.2 only

This chapter explains sampling distributions and the Central Limit Theorem.

**Chapter 8: Confidence Intervals**

Sections 8.1, 8.2, and 8.3 only

This chapter explains how to calculate confidence intervals for population means and proportions.

**Chapter 9: Hypothesis Testing with One Sample**

This chapter introduces hypothesis testing, including the general steps and how to conduct one-sample tests.

**Chapter 10: Hypothesis Testing with Two Samples**

Sections 10.1, 10.3, and 10.6 only

This chapter expands on Chapter 9 material and focuses on two-sample tests. There are five tests introduced in this chapter, but we will only focus on three of them.1 attachmentsSlide 1 of 1

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### UNFORMATTED ATTACHMENT PREVIEW

Trident University BUS520: Business Analytics and Decision Making Module 2: SLP Template FILL IN ALL CELLS THAT ARE HIGHLIGHTED IN YELLOW Please remember to save this file with your last name in the file name. For example: BUS520 Module 2 SLP T Name: Annual Amount Spent on Organic Food 7348 11598 9224 12991 16556 11515 10469 17933 18173 12305 9080 9113 6185 6470 6000 6760 8579 7393 8161 10800 6160 10800 8543 17666 12644 14308 9737 13301 18106 11468 9547 7812 15521 Age 77 47 23 38 58 44 34 75 32 39 65 48 48 49 57 71 47 47 28 63 24 66 24 38 54 28 58 27 48 26 52 29 75 Annual Income 109688 109981 112139 113420 114101 115100 116330 116339 117907 119071 58603 58623 61579 62180 62202 68041 68407 69618 73079 75900 77129 79618 81131 86246 89167 89576 92296 93614 93954 95937 100846 103276 104112 Number of People in Household 3 5 4 5 5 5 5 6 7

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