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Econ Stats

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Economics
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Harvard University
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ECON 221--Statistics for Economics and Business I
Third Excel Assignment
Due on Moodle on Tuesday, April 13, 2021 at 2:00 PM.
Each of the following problems uses a procedure that can be found in the PHStat menu, two of
them are under Confidence Intervals and one is under Sample Size. The main differences among
them are:
one is an estimate of the population mean and sigma is unknown.
one is an estimate of the population proportion.
in one you are determining the sample size for estimating the population mean.
Each part relies on the data in your Housing and Donations datafile.
A. Using PHStat/Excel, estimate the population mean level of annual charitable donations at
the 99% confidence level. Remember: you do NOT know what the standard deviation of
the population of donations is. (5 points)
Confidence Interval Estimate for the Mean
Data
Sample Standard Deviation
6155.446585
Sample Mean
2,487
Sample Size
25
Confidence Level
99%
Intermediate Calculations
Standard Error of the Mean
1231.089317
Degrees of Freedom
24
t Value
2.7969
Interval Half Width
3443.2823
Confidence Interval
Interval Lower Limit
-956.48
Interval Upper Limit
5930.08
The confidence interval is between $-956.48 and $5930.08
B. Using PHStat/Excel, estimate the population proportion of all respondents who think
their housing situation is Comfortable and Safe at the 95% confidence level. (5 points)

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ECON 221--Statistics for Economics and Business I Third Excel Assignment Due on Moodle on Tuesday, April 13, 2021 at 2:00 PM. Each of the following problems uses a procedure that can be found in the PHStat menu, two of them are under Confidence Intervals and one is under Sample Size. The main differences among them are: ➢ one is an estimate of the population mean and sigma is unknown. ➢ one is an estimate of the population proportion. ➢ in one you are determining the sample size for estimating the population mean. Each part relies on the data in your Housing and Donations datafile. A. U ...
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