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20180422052436qnt275r 7 Solution

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1. Average weekly sales data is provided for a sample of 50 employees. Determine the range of values in which you would expect to find the average weekly sales for the entire sales force in your 90% confidence interval n 50 standard deviation 2284.174334 mean 3966.6431 Zalpha/2 * s/sqrt(n) = 531.3387649 upper limit 3966.64+533.34 4497.9818 lower limit 3966.64-533.34 3435.304 Calculate the impact of increasing the confidence level to 95%. Zalpha/2 * s/sqrt(n) = 633.129189 upper limit 4599.7723 lowerlimit 3333.5139 increase of 100 approx. hence range will be increase by 200 units Calculate the impact of increasing the sample size to 150, assuming the same mean and standard deviation, but allowing th n 150 Zalpha/2 * s/sqrt(n) = 306.768579 upper limit 4273.4117 The limit range reduces lower limit 3659.8745 Sample Confidence Level Margin of Error Mean LL 50 0.9 531.3387649 3966.6431 3435.3043 50 0.95 633.129189 3966.6431 3333.5139 150 0.9 306.768579 3966.6431 3659.8745 (uses Excel function: CONFIDENCE.NORM) 2. Based on the calculated confidence interval for weekly sales on the sample of 50 reps at a 90% confidence level: Calculate both Reps’ average LL weekly performance and UL highlight if it is greater than the population mean. 3435.3043 4497.9818 Confidence Interval Average of A Average of B 4972.266667 Rep A : 4972.267. is significatly higher beyond upper limit of 90 3909.333333 3. You want to determine whether there is a statistically different average weekly sales bet ...
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