Week 6 AssignmentQuestion 1Professor Nord stated that the mean score on the final exam from all theyears he has been teaching is a 79%. Colby was in his most recent class,and his class’s mean score on the final exam was 82%. Colby decided to run a hypothesis test to determine if the mean score of his class was significantly greater than the mean score of the population. α = .01.What is the mean score of the population?What is the mean score of the sample?Is this test one-tailed or two-tailed? Why?What is the null hypothesis in this case?If p = 0.29, should Colby reject or fail to reject the null hypothesis?What should Colby’s statement of conclusion be? (This circles back towhat is being tested).The next two ask you do to a hypothesis test. Remember, hypothesis tests follow a series of steps. They are not just a computer printout. Make sureif you use a computer printout, you identify which parts of the printout apply to the problem. All of the parts of the printout will NOT apply.Question 2A sample of 22 account balances of a credit company showed a mean customer balance of $4,300, but the marketing manager claimed that the mean balance for the population was $4450. The marketing manager did NOT have the population standard deviation, but the sample standard deviation was found to be $400. Use the p-value approach to conduct a full hypothesis test(all steps) that can be used to determine whether the mean of all account balances is significantly different from $4440. Let α = .05.Question 3A sample of 150 homes for sale in ABC City showed a mean asking price of $233,000, but the city claimed that the mean asking price for the population was $255,000. The population standard deviation of all homes for sale was $11,000. Use the p-value approach to conduct a full hypothesis test (all steps) that can be used to determine whether the mean asking price is significantly less than $255,000. Let α = .10.Question 4 During the recent primary elections, the democratic presidential candidate showed the following pre-election voter support in Alabama and Mississippi.StateVoters Surveyed Voters in favor of Democratic CandidateAlabama710352Mississippi 915480We want to determine whether or not the PROPORTIONS of voters favoring the Democratic candidate were the same in both states. In other words, is the first proportion (p1) the same as (p2)? What formula, from this week’s Notations and Symbols, would be applicable in the hypothesis test? (Notice you are not doing a hypothesis test – you are saying which formula applies).Project Week 6For these project assignments throughout the course you will need to reference the data in the ROI Excel spreadheet. Download it here.For each of the 2 majors, conduct a full hypothesis test using the p-value method at the 5% significance level:The mean ‘Cost’ for a college is $165,000. The average ’30-Year ROI’ for Business majors is less than for Engineering Majors. 2. For Business versus Engineering majors conduct full hypothesis test with the p-value method. This is a two sample test of the hypothesis at the 10% significance level (assume the variances are not equal):3. In a highlighted box, explain how each hypothesis test contributes to the central question of which major would give the better ROI. Why do we need hypothesis testing? Isn't it enough to look at the sample of 20 schools and look at those numbers? What exactly does hypothesis testing do that looking at the numbers in the sample and saying "one is higher than the other" cannot do? This answer is critical to your final project. It demonstrates that you understand why you just can't look at the mean, median, and mode of the spreadsheet and "call it a day." Remember that written portions belong on a MS Word document.Hint from Dr. Klotz: Notice that you are conducting a full hypothesis test three times in this project. This is more than running a computer program. Make sure that you have all parts as discussed in the threads.