Please need help to calculate attached questions in excel formula with explanation please Thanks **Problem 1:**A random sample of 81 students at a local university showed that they work an average of 100 hours per month. The population standard deviation is known to be 27 hours. Answer the 4 questions below.1) **What is the point estimate for the mean hours per month all students at the university work?** - 100 (the sample mean is used as the point estimate for the population mean).2) **95% confidence interval is** - ( _ , _ ) (This section is to be filled with the calculated confidence interval values).3) **99% confidence interval is** - ( _ , _ ) (This section is to be filled with the calculated confidence interval values).4) - **Explanation of which interval is wider and why:** The 99% confidence interval is wider than the 95% confidence interval. This is because a higher confidence level requires a broader range to ensure that the true population parameter is captured within the interval. A greater level of certainty comes with a trade-off of less precision.

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Description: Please need help to calculate attached questions in excel formula with explanation please Thanks **Problem 1:**A random sample of 81 students at a local university showed that they work an average of 100 hours per month. The population standard devia

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Problem 1: A random sample of 81 students at a local university showed that they work an average of 100 hours per month. The population standard deviation is known to be 27 hours. Answer the 4 questions below. ) What is the point estimate for the mean hours per month all students at the university work :) 95% confidence interval is =) 99% confidence interval is Type here which interval is wider. Why?

Problem 1: A random sample of 81 students at a local university showed that they work an average of 100 hours per month. The population standard deviation is known to be 27 hours. Answer the 4 questions below. ) What is the point estimate for the mean hours per month all students at the university work :) 95% confidence interval is =) 99% confidence interval is Type here which interval is wider. Why?

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Please need help to calculate attached questions in excel formula

with explanation please

Thanks

**Problem 1:**
A random sample of 81 students at a local university showed that they work an average of 100 hours per month. The population standard deviation is known to be 27 hours. Answer the 4 questions below.

1) **What is the point estimate for the mean hours per month all students at the university work?**
- 100 (the sample mean is used as the point estimate for the population mean).

2) **95% confidence interval is**
- ( _ , _ ) (This section is to be filled with the calculated confidence interval values).

3) **99% confidence interval is**
- ( _ , _ ) (This section is to be filled with the calculated confidence interval values).

4)
- **Explanation of which interval is wider and why:**

The 99% confidence interval is wider than the 95% confidence interval. This is because a higher confidence level requires a broader range to ensure that the true population parameter is captured within the interval. A greater level of certainty comes with a trade-off of less precision.

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