Maths- Compute the p-value and interpret Maths- Compute the p-value and interpret Question LOCATION INCOME($1000) SIZE YEARS CREDIT BALANCE($) Rural 30 2 12 3159 Rural 31 2 4 1864 Rural 37 1 20 2731 Rural 27 1 19 2477 Rural 33 2 12 2514 Rural 44 1 7 2995 Rural 42 2 19 3020 Rural 30 1 14 2583 Rural 48 2 8 3866 Rural 50 2 11 3605 Rural 35 1 11 3121 Rural 27 2 1 2921 Rural 30 2 14 3067 Rural 22 4 16 3074 Suburban 32 4 17 5100 Suburban 50 5 14 4742 Suburban 66 4 10 4764 Suburban 63 4 13 4965 Suburban 62 6 13 5678 Suburban 55 7 15 5301 Suburban 54 6 14 5573 Suburban 67 4 13 5037 Suburban 22 3 18 3579 Suburban 39 2 18 2972 Suburban 54 3 9 3730 Suburban 23 6 18 4127 Suburban 61 2 14 4273 Suburban 46 5 13 4820 Suburban 66 4 20 5149 Urban 54 3 12 4016 Urban 55 2 9 4070 Urban 40 2 7 3348 Urban 51 3 16 4110 Urban 25 3 11 4208 Urban 48 4 16 4219 Urban 65 3 12 4214 Urban 42 6 15 4412 Urban 21 2 18 2448 Urban 37 5 5 4171 Urban 21 3 16 3623 Urban 41 7 18 4828 Urban 34 5 5 3586 Urban 67 5 1 5345 Urban 55 6 16 5370 Urban 52 2 11 3890 Urban 62 3 2 4705 Urban 64 2 6 4157 Urban 29 4 4 3890 Urban 39 4 15 4183 Urban 26 7 17 4603 Your manager has speculated the following: the average (mean) annual income was 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. Using the sample data, perform the hypothesis test for each of the above situations in order to see if there is evidence to support your manager’s belief in each case a.-d. In each case use the Seven Elements of a Test of Hypothesis, in Section 6.2 of your text book with ? = .05, and explain your conclusion in simple terms. Also be sure to compute the p-value and interpret.