Question

The data below is the income for people who are married. Find the 99% confidence Interval...

The data below is the income for people who are married. Find the 99% confidence Interval for the mean incomes for married couples.

Incomes of married people

95835

110651

97663

110553

98491

115766

95706

99610

10235

1.       State and check the assumptions for confidence interval

2.       Method used to analyze data (TI calculator, web applet, or excel

3.       Find Sample statistic and the confidence interval

4.       Statistical interpretation

Homework Answers

Answer #1

1.       State and check the assumptions for confidence interval

Finding the confidence interval (lower and upper limit) with 99 % is possible with excel formula.

please check the below image with detailed camculation and formulas

Find Sample statistic and the confidence interval, Statistical interpretation

Statistical interpretion is available in excel data analysis tool.

Descriptive statistics are mainly used to find sample statistic and confidence level.

1. Go to excel data tab and choose data analysis.

2. If data analysis is not possible then go to excel options and select Add-ins and select analysis tool pak and enable the analysis tool.

3. Now you can go to data analysis and choose descriptive statistics and run the summary for confidence level 99 %

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