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Hypothesis Testing

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Use the Wealth Score column to answer two questions: 1) Are married people wealthier than single people? Are people over 55 years old wealthier than people under 55? Do the t-test. First check for equal variances using the F-test. Use the appropriate t test, depending on the outcome of the variance test. That is if the variances are not equal, then use unequal variances for the t-test. Check your data to elimate bad data. For example, some of the age data =0. Get rid of these before doing the test. Also check for extreme outliers as well.

2. In your report fully describe the theory and assumptions behind these tests

I will be thankful for any help on this. I don't understand it at all.

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Solution Summary

Hypothesis testing for quantitative analysis is examined.

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