What is the excel formula for this? A simple random sample of 60 items resulted in a sample average of 80. The population standard deviation is sigma=15. What is a 99% Confidence Interval for the population mean?

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
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ISBN:9780079039897
Author:Carter
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Chapter10: Statistics
Section10.5: Comparing Sets Of Data
Problem 14PPS
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What is the excel formula for this?

A simple random sample of 60 items resulted in a sample average of 80. The population standard deviation is sigma=15. What is a 99% Confidence Interval for the population mean?

Expert Solution
Step 1

Given information-

Sample size, n = 60

Sample mean, x-bar = 80

Sample standard deviation, σ = 15

Significance level, α = 0.01

Since here population standard deviation is known so we will use z-distribution.

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