Question

For the data in the Excel file Education and Income, find 95% confidence intervals for the mean annual income of males and the mean annual income of females. Can you conclude that the mean income of one group is larger than the other?

I need to do this in Excel but not sure how I could make it.

Education and Income
Gender	Age	Level of Education	Gross Annual Income
Female	40-60	Graduate Degree	$75,000
Female	25-39	Bachelor's Degree	$47,000
Female	25-39	Some College	$30,000
Female	25-39	Some College	$60,000
Female	40-60	Bachelor's Degree	$80,000
Female	25-39	Bachelor's Degree	$10,000
Female	25-39	Bachelor's Degree	$43,000
Female	40-60	Bachelor's Degree	$89,000
Female	40-60	Graduate Degree	$50,000
Female	18-24	Some College	$13,462
Female	25-39	Bachelor's Degree	$85,000
Female	25-39	Associates Degree	$44,000
Female	25-39	Some College	$15,288
Female	18-24	Bachelor's Degree	$10,000
Female	25-39	Bachelor's Degree	$85,000
Male	40-60	High School/GED	$40,000
Male	25-39	Bachelor's Degree	$130,000
Male	25-39	Bachelor's Degree	$60,000
Male	40-60	Graduate Degree	$200,000
Male	25-39	High School/GED	$26,000
Male	25-39	Some College	$46,100
Male	25-39	Graduate Degree	$15,000
Male	25-39	Bachelor's Degree	$58,000
Male	18-24	Bachelor's Degree	$20,000

Answer 1

The 95% confidence interval for the mean annual income of females is between 33026.856 and 65206.478.

49,116.667	mean Female
29,054.437	std. dev.
7,501.823	std. error
15	n
14	df
33,026.856	confidence interval 95.% lower
65,206.478	confidence interval 95.% upper
16,089.811	margin of error

The 95% confidence interval for the mean annual income of males is between 19412.69 and 112831.75.

66,122.222	mean Male
60,766.845	std. dev.
20,255.615	std. error
9	n
8	df
19,412.69	confidence interval 95.% lower
1,12,831.75	confidence interval 95.% upper
46,709.53	margin of error