Confidence interval | Statistics homework help


Initial Post: Assuming .05 as your alpha value, make up a problem similar to this one below. (Make up 36 gas prices for your example – be sure they are similar to the prices you have had in your area.)  List the values in your post.

In your response, describe what you did and give the mean, standard deviation and confidence interval.

Example below:

  • First find the      mean. List all 36 gas prices in cells A1 to A36 in your excel spreadsheet.
  • On a different      cell type in =average(A1:A36) and the hit enter to find the average
  • Assume your      answer is 2.65
  • On a different      cell type in =stdev.s(A1:A36) or =stdevA(A1:A36) and      enter to find the standard deviation
  • Assume your      answer is .43
  • Then type this      in an excel cell =confidence(.05,.43,36) and hit enter.      This is the E value
  • So take the mean      of 2.65 and you have (2.65-E, 2.65+E) for your confidence interval

Formula you used above for the confidence interval:

The formula is E= zsubc * sigma / sqrt n

Where the left-hand endpoint is xbar – E and the right-hand endpoint is xbar + E

The above is an example. Please come up with something similar. Keep the answer separate please

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