Confidence Interval

Aug 23rd, 2016
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I provide 2 fully worked examples of how to construct confidence intervals of a population mean using microsoft excel

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1. A simple random sample of 40 salaries of NCAA football coaches has a mean of$415,953 and a standard deviation of $463,364.Construct a 95% confidence interval estimate of the mean salary of an NCAAfootball coach.123ADATA0.05463,36440FORMULA=CONFIDENCE(A1,A2,A3)BDESCRIPTIONSignificance levelStd. deviation of the populationSample sizeDESCRIPTION (RESULT)143,595Confidence interval for the population mean. That is tosay, the confidence interval for the basic populationmean for NCAA football coaches equals $ 415,953 143,595.35 dollars. Put another way $ 272,358 to559

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