Based on what you’ve learned in Chapter 3, calculate the following 10:
Sample size: conduct a COUNT via formula of the data in your spreadsheet
Sample Mean of Sales: use formula
Sample Standard Deviation of Sales: use formula
Confidence Level: 95% (use this number)
Standard Error: Sample STDEV divided by SQRT of sample size
Alpha: 5% (1 minus the confidence level, 95% in this case)
Degrees of Freedom: Sample size minus 1
t-Value: TINV(Alpha, Degrees of Freedom)
Half-Width: t Value *Standard Error of the Mean
Lower Limit Total Sales: Sample Mean – Interval Half Width
(or /and) Upper Limit Total Sales: Sample Mean + Interval Half Width
Please complete all calculations in the Excel file provided to you.
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