Assignment #3_ Inferential Statistics Analysis and Writeup (1).

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I am head of a household, who is 56 years old and married. I have also a university degree in Accounting and one child. Altogether with my husband, our household income is $97,000 annually. Our annua ... l food expense is $8,700. In this analysis, I have used the entertainment expenditure variable in order to determine whether the level of income impacts the number of entertainment expenditures. I Variables Selected: Table 1: Variables Selected for Analysis Variable Name in the Data Set Variable Type Description Qualitative or Quantitative Variable 1: Income Socioeconomi c Annual household income in USD Quantitative Variable 2: Entertainment Expenditures Expenditure Total Amount of Annual Expenditure on Entertainment Quantitative Variable 3: Food Expenditures Expenditure Total Amount of Annual Expenditure on Food Quantitative Data Analysis: 1. Confidence Interval Analysis: Table 2: Confidence Interval Information and Results Name of Variable: Food Expenditure State the Random Variable and Parameter in Words: The household income impacts on the Food expenditures. The value of incomes fluctuates throughout the country depending on economic conditions in the country. Based on the level of income, people decided to create the budget on their Food expenditures. Confidence interval method including confidence level and rationale for using it: Confidence Interval for sample mean was used because the variable of interest is Quantitative. [Show More]

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