**PLEASE NOTE** - I am using Excel and it is CRUCIAL that I know the excel funct
ID: 3221744 • Letter: #
Question
**PLEASE NOTE** - I am using Excel and it is CRUCIAL that I know the excel functions to discover the answers. PLEASE HELP ME UNDERSTAND THIS BY LISTING THEM!!! Finding the answer isn't as hard for me as being able to input the functions via excel. THANK YOU SO MUCH!!!!
**PLEASE NOTE** - I am using Excel and it is CRUCIAL that I know the excel functions to discover the answers. PLEASE HELP ME UNDERSTAND THIS BY LISTING THEM!!! Finding the answer isn't as hard for me as being able to input the functions via excel. THANK YOU SO MUCH!!!!
The Wall Street Journal reported that automobile crashes cost the United States $162 billion annually (The Wall Street Journal, March 5, 2008). The average cost per person for crashes in the Tampa, Florida, area was reported to be $1599. Suppose this average cost was based on a sample of 50 persons who had been involved in car crashes and that the population stan- dard deviation is o $600 a) What is the point estimate of the mean? b) Find the critical value. c) Find the standard error. d) Find the margin of error e) Construct a 95% confidence interval f) Give a one-sentence interpretation of the confidence interv al. Did you use the z-distribution or the t-distribution? Tell me why. Be sure to show all calculations. and label all answers appropriately.Explanation / Answer
a) std err = std. dev/sqrt(sample size)
excel function is "=10/SQRT(20)" Note:10 is the standard deviation provided
Notation is "P(score < 90)"
Answer is "=NORM.DIST(90,100,A1,TRUE)" = 3.87 * 10-6
Note: This is assuming the standard error was calculated in A1 cell(see the answer formula). Make the necessary changes in your calculation.
b) std err is "=10/SQRT(50)"
Notation is "P(score > 100)"
Answer is "=1 - NORM.DIST(100,100,A1,TRUE)" = 0.5
c) std err is "=10/SQRT(36)"
Notation is "P(75 < score < 95)"
Answer is "=(NORM.DIST(95,100,A1,TRUE)) - (NORM.DIST(75,100,A1,TRUE))" = 0.001350
Note: Leave out the double quotes while typing in the formulas.
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