1. Generate a 95% confidence interval for the following two variables by hand: “Annual Amount Spent on Organic Food” and “Age.”
2. 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.
3. Interpret the confidence intervals for each of the variables.
4. 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?