Question

A cruise company would like to estimate the average beer consumption to plan its beer inventory levels on future​ seven-day cruises.​ (The ship certainly​ doesn't want to run out of beer in the middle of the​ ocean!) The average beer consumption over 17 randomly selected​ seven-day cruises was 82,357 bottles with a sample standard deviation of 4,492 bottles. Complete parts a and b below.

a. Construct a 99​% confidence interval to estimate the average beer consumption per cruise.

Answer: The 99​% confidence interval to estimate the average beer consumption per cruise is from a lower limit of 79,175 bottles to an upper limit of 85,539 bottles.

b. What assumptions need to be made about this​ population?

Answer: To find what assumptions need to be made about this​ population, carefully review the requirements for calculating a confidence interval with the​ Student's t-distribution when the sample size is less than or equal to 30.

Above are the questions and answers. Please provide all Excel formulas (not calculations) that get to these answers.

Answer 1

using excel>we have

Data
Sample Standard Deviation	4492
Sample Mean	82357
Sample Size	17
Confidence Level	99%
Intermediate Calculations
Standard Error of the Mean	1089.470028	B4/SQRT(B6)
Degrees of Freedom	16
t Value	2.9208	T.INV.2T(1-B7, B11)
Interval Half Width	3182.1040	B12*B10
Confidence Interval
Interval Lower Limit	79174.90	B5-B13
Interval Upper Limit	85539.10	B5+B13

1 )  The 99​% confidence interval to estimate the average beer consumption per cruise is from a lower limit of 79,174.9 bottles to an upper limit of 85,539.10 bottles.

2 )the assumption needed are, the sample size should be less than 30

the population standard deviation should be unknown