View the step-by-step solution to:

Enter the following 25 data values beginning in cell A11 and continue down the A column to cell A35:


2.        Enter the following 25 data values beginning in cell A11 and continue down the A column to cell A35:

42, 30, 53, 50, 52, 30, 55, 49, 61, 74, 26, 58, 40,

40, 28, 36, 30, 33, 31, 37, 32, 37, 30, 32, 23

                       

3.        Select the following cells and type the headings indicated below:

                       In cell A10 type Sales

                       In cell D11 type Mean

                       In cell D12 type Standard Deviation

                       In cell D13 type # Observations        

                       In cell D15 type Confidence Interval for Alpha = .10

                       In cells D16, D19, and D22 type Min.

                       In cell D18 type Confidence Interval for Alpha = .05

                       In cell D21 type Confidence Interval for Alpha = .01

                       In cells F16, F19, and F22 type Max.

            

4.        Select cell C11. Then click on the Formulas tab in the toolbar, then select More Functions. Under the Function category select Statistical. Under the Function name select AVERAGE. In the dialog box Number 1 type A11:A35 then click on OK. The mean of the 25 data values should appear.


5.        Select cell C12. Then click on the Formulas tab in the toolbar, then select More Functions. Under the Function category select Statistical. Under the Function name select STDEV.P.  In the dialog box Number 1 type A11:A35 then click on OK. The standard deviation of the 25 data values should appear.


6.        Select cell C13. Then click on the Formulas tab in the toolbar, then select More Functions. Under the Function category select Statistical. Under the Function name select COUNT. In the dialog box Value 1 type A11:A35 then click on OK. The number of observations (25) for the data values should appear.


7.        Select cell C15. Then click on the Formulas tab in the toolbar, then select More Functions. Under the Function category select Statistical. Under the Function name select CONFIDENCE.NORM (or CONFIDENCE for Excel 2007). In the dialog box Alpha type .10, in the dialog box Standard deviation type C12, in the dialog box Size type C13. Then click on OK. The confidence interval (± value) should appear. 

(Instructions continue on the next page)

8.        Select cell C18. Repeat Step 7 above from the second sentence, except type .05 in the Alpha dialog box. Then click OK. The confidence interval (± value) should appear.


9.        Select cell C21. Repeat Step 7 above from the second sentence, except type .01 in the Alpha dialog box. Then click OK. The confidence interval (± value) should appear.


10.      Select cell C16 and type =C11-C15. Then hit Enter. Next select cell E16 and type =C11+C15, and hit Enter. The minimum and maximum values for the confidence interval should appear.


11.      Select cell C19 and type =C11-C18. Then hit Enter. Next select cell E19 and type =C11+C18, and hit Enter. The minimum and maximum values for the confidence interval should appear.


12.      Select cell C22 and type =C11-C21. Then hit Enter. Next select cell E22 and type =C11+C21, and hit Enter. The minimum and maximum values for the confidence interval should appear.


13.      Save the worksheet on a disk as CONFIDENCE.xlsx and print-out the worksheet to submit to the instructor.


14.      In addition to submitting a print-out of the worksheet, also reference the data in your print-out and your Notes.


(a)       Draw three separate graphs (one for each alpha value .10, .05, and .01) illustrating the alpha values, confidence levels, the mean, and the minimum and maximum values for the confidence level.


(b)       What is the Maximum Tolerable Error value at an Alpha = .10, Alpha = .05, and an Alpha = .01? answer next to each graph.


(c)       Now, suppose the data represents a population and you are performing hypothesis tests.


(1)       Indicate and show on the graphs whether you would accept or reject 

          the H0 for each of the three alpha values (.10, .05, .01) if x-bar =

          45.9 and the type of error that could possibly be made.  accept/reject decision and type of error next to each graph.


(2)       Indicate and show on the graphs whether you would accept or reject the H0 for each of the three alpha values (.10, .05, .01) if x-bar = 35.9 and the type of error that could possibly be made.  accept/reject decision and type of error next to each graph. 

Recently Asked Questions

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.

-

Educational Resources
  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

    Browse Documents
  • -

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question