Test, at the 5 level of significance between businesses in Parramatta CBD

Assignment Task

Question

1. Calculate a 95% confidence interval for the unknown population mean business age.

2. Test, at the 1% level of significance, whether the average business has more than 15 employees.

3. Test, at the 5% level of significance, whether the average profit in 2014 differs between businesses located in Parramatta CBD or located in Sydney CBD. You may assume that the unknown population standard deviations for Parramatta and Sydney businesses are equal.

4. Test, at the 5% level of significance, whether location (Parramatta or Sydney CBD) of the business is related to type of business (privately held, publicly traded or franchise).

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