Lodging, Car Rental, and Meal Taxes ($) Formula =AVERAGE(A2:A201) 20.58 Sample Mean (2 decimals) 41.91 21.13 64.47 Standard Deviation 8.50 58.21 59.49 Confidence Level 0.95 24.74 38.96 Sigfinicance Level (Alpha) 0.05 #N/A 53.22 44.61 Sample Size 200 #N/A 41.23 47.37 Margin of Error (2 decimals) 2.60 =CONFIDENCE.NORM(D8,D4,D2) 48.66 C.I. Lower Limit (2 decimals) C.I. Upper Limit (2 decimals) 22.21 39.31 =D2-D12 44.26 44.51 =D2+D12 35.35 62.76

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In an attempt to asses total daily travel taxes in various cities, the Global Business Travel Association conducted a study of daily travel taxes on lodging, rental cars, and meals

In an attempt to assess total daily travel taxes in various cities, the Global business Travel Association conducted a study of daily travel taxes on lodging, rental car, and
meals. The data consistent with the findings of the study for business travel to Chicago are contained in the Excel Online file below. Construct a spreadsheet to answer the
following questions.
Open spreadsheet
Assume the population standard deviation is known to be $8.50 and develop a 95% confidence interval of the population mean total daily travel taxes for Chicago. Round
your answer to two decimal places.
(2439.31
43.06
Transcribed Image Text:In an attempt to assess total daily travel taxes in various cities, the Global business Travel Association conducted a study of daily travel taxes on lodging, rental car, and meals. The data consistent with the findings of the study for business travel to Chicago are contained in the Excel Online file below. Construct a spreadsheet to answer the following questions. Open spreadsheet Assume the population standard deviation is known to be $8.50 and develop a 95% confidence interval of the population mean total daily travel taxes for Chicago. Round your answer to two decimal places. (2439.31 43.06
Lodging, Car Rental, and
Meal Taxes ($)
20.58
Formula
Sample Mean (2 decimals)
41.91
=AVERAGE(A2:A201)
21.13
64.47
Standard Deviation
8.50
58.21
59.49
Confidence Level
0.95
24.74
38.96
Sigfinicance Level (Alpha)
0.05
#N/A
53.22
44.61
Sample Size
200
#N/A
41.23
47.37
Margin of Error (2 decimals)
2.60
=CONFIDENCE.NORM(D8,D4,D2)
48.66
C.I. Lower Limit (2 decimals)
C.I. Upper Limit (2 decimals)
22.21
39.31
=D2-D12
44.26
44.51
=D2+D12
35.35
62.76
53.80
Transcribed Image Text:Lodging, Car Rental, and Meal Taxes ($) 20.58 Formula Sample Mean (2 decimals) 41.91 =AVERAGE(A2:A201) 21.13 64.47 Standard Deviation 8.50 58.21 59.49 Confidence Level 0.95 24.74 38.96 Sigfinicance Level (Alpha) 0.05 #N/A 53.22 44.61 Sample Size 200 #N/A 41.23 47.37 Margin of Error (2 decimals) 2.60 =CONFIDENCE.NORM(D8,D4,D2) 48.66 C.I. Lower Limit (2 decimals) C.I. Upper Limit (2 decimals) 22.21 39.31 =D2-D12 44.26 44.51 =D2+D12 35.35 62.76 53.80
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