Document s Mailings Review View No spacing Heading 1 Heading 2 Instructions: Rea

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Document s Mailings Review View No spacing Heading 1 Heading 2 Instructions: Read this very carefully, you should clearly label each part of the problems with (a), (b,etc., and every computation should be labeled. For example, in the cell next to the mean of the data, you should have typed the word mean or average. Be sure to do your computations using Excel. Do not do computations using Table A or on a calculator and then type the answers into Excel 1. In New York City in the late 1970s and early 1980s, parking meter collections averaged $1.75 million per month with a standard deviation of $302 thousand per month. Assume that the amount generated per month is Normal with the mean and standard deviation from the previous sentence. For about two years the city hired Brink's Inc. to do collections instead. The data file gives the collections that Brink's reported to the city during that period. a (2 points) What is the sample size for this data? b) (4 points) What is the sample mean? c) (6 points) The city was concerned that Brink's was stealing money from the parking meter receipts. Assume that this sample of months is like a random sample. Given your answers to the first two parts, what is the probability of a sample at least as far below the mean as the sample from the period of the Brink's contract? I NEED THE ANSWER TO BE IN EXCEL FORMAT, WHAT FORMULAS AND WHAT NUMBERS

Explanation / Answer

a)

=Count(A1:A24)=24

b)

=Average(A1:A24)=1588309.71

c)

p=0.0059

Mean=1750000 (As mentioned in the example)

Std Dev=302000 (As mentioned in the example)

a=1588309.71 (Average of the sample)

p=0.30 =NORM.DIST(C30,C28,C29,TRUE)

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