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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