Question

A random sample of 50 observations from a quantitative population produced a sample mean of 65.4...

A random sample of 50 observations from a quantitative population produced a sample mean of 65.4 and a variance of 2.8. Which Excel statement will calculate the margin of error?

a.

=65.4-50
b.

=65.4-SQRT(2.8)
c.

=50-SQRT(2.8)
d.

=1.96*1.67332/SQRT(2.8)
e.

=1.96*1.67332/SQRT(50)
f.

None of the above.
Math   Statistics-And-Probability   
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Homework Answers

Answer #1

Solution :

Given that,

Point estimate = sample mean = = 65.4

2 = 2.8

Population standard deviation = = 1.67332

Sample size = n = 50

At 95% confidence level the z is ,

= 1 - 95% = 1 - 0.95 = 0.05

/ 2 = 0.05 / 2 = 0.025

Z/2 = Z0.025 = 1.96

Margin of error using excel ,

= 1.96*1.67332/SQRT(50)

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