Question
In: Statistics and Probability
Use Excel to answer. A college admission officer for an MBA program determines that historically candidates...
Use Excel to answer. A college admission officer for an MBA program determines that historically candidates have undergraduate grade averages that are normally distributed with standard deviation of .45. A random sample of 25 applications from the current year yields a sample mean grade point average of 2.90.
- Find a 95% confidence interval for the population mean, μ. (Round the boundaries to 2 decimal places.)
- Based on the same sample results, a statistician computes a confidence interval for the population mean as 2.81< μ < 2.99. Find the α for this interval and the probability content (1- α) as well. (Round to 4 digits.) (Note: the correct α is a higher number than traditional α used; so don’t worry if your number “looks” wrong!)
Hint: first calculate α/2 using either the lower bound (2.81) or upper bound (2.99); then calculate α. Finally, calculate the probability content of the interval, which is (1- α). And make sure you use the standard error, not the standard deviation, to calculate α/2.
Solutions
Expert Solution
I can't describe steps in Excel since we have to calculate this in a single cell. There is no in built formula to calculate Confidence Interval in Excel. You can input the values in different cells and then using the formula in an other cell you can get the required Confidence Interval. The process of calculating Confidence Interval has shown below.
1)
2)
orchestra answered 2 years agoRelated Solutions
Compute in excel A college admission officer for an MBA program determines that historically candidates have...
Compute in excel
A college admission officer for an MBA program determines that
historically candidates have undergraduate grade averages that are
normally distributed with standard deviation of .45. A random
sample of 25 applications from the current year yields a sample
mean grade point average of 2.90. (i) Find a 95% confidence
interval for the population mean, μ. (Round the boundaries to 2
decimal places.) (ii) Based on the same sample results, a
statistician computes a confidence interval for the...
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For each new class entry that is taken, you will write out the
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C++ For the assignment, we will use the previous assignment’s program that determines whether a college...
C++
For the assignment, we will use the previous assignment’s
program that determines whether a college class room is in
violation of fire law regulations regarding the maximum room
capacity and add more logic to that program. We will need to make
the following enhancements…
Convert all of the function’s parameters from pass by value to
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Accumulate totals for each of the class rooms that we are using
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C++ For the assignment, we will use the previous assignment’s program that determines whether a college...
C++
For the assignment, we will use the previous assignment’s
program that determines whether a college class room is in
violation of fire law regulations regarding the maximum room
capacity and add more logic to that program. We will need to make
the following enhancements…
Convert all of the function’s parameters from pass by value to
pass by reference.
Accumulate totals for each of the class rooms that we are using
for this program. When the program ends (user choice...
2. GMAT scores are required for admission to JHJ’s MBA program. GMAT scores are known to...
2. GMAT scores are required for admission to JHJ’s MBA program.
GMAT scores are known to be normally distributed with a mean of 490
points and a standard deviation of 61 points. a. 25% of the scores
of applicants are less than what score? b. 75% of the scores of
applicants are less than what score? c. 25% of the scores of
applicants are less than what score? d. 80% of the scores of
applicants are more than what score?...
1. GMAT scores are required for admission to JHJ’s MBA program. GMAT scores are known to...
1. GMAT scores are required for admission to JHJ’s MBA
program. GMAT scores are known to be normally distributed with a
mean of 490 points and a standard deviation of 61
points.
25% of the scores of applicants are less than what
score?
75% of the scores of applicants are less than what
score?
25% of the scores of applicants are less than what
score?
80% of the scores of applicants are more than what
score?
Only applicants in the...
use a financial calculator or a program such as Excel to answer the questions run your...
use a financial calculator or a program such as Excel
to answer the questions run your answers to the nearest whole
number.
A. you purchase a stock for $9,500 and collect $350 at
the end of each year in dividends. you sell the stock for $11,000
after 6 years what was the annual return on your $9, 500
investment?
B. You purchased a building for a $750,000 collect
annual rent (after expenses) of $110,000 and sell the building for
$800,000...
eBook Problem 7-31 Use a financial calculator or a program such as Excel to answer the...
eBook
Problem 7-31
Use a financial calculator or a program such as Excel to answer
the questions. Round your answers to the nearest whole number.
You purchase a stock for $9,000 and collect $300 at the end of
each year in dividends. You sell the stock for $10,500 after five
years. What was the annual return on your $9,000 investment?
%
You purchase a building for $850,000, collect annual rent (after
expenses) of $110,000, and sell the building for $950,000...
Use EXCEL and formulas Linear program problem whose output follows determines how many necklaces, bracelets, rings,...
Use EXCEL and formulas
Linear program problem whose output follows determines how many
necklaces, bracelets, rings, and earrings a jewelry store should
stock. The objective function measures profit; it is assumed that
every piece stocked will be sold. Constraint 1 measures display
space in units, constraint 2 measures time to set up the display in
minutes. Constraints 3 and 4 are marketing restrictions.
MAX 100X1+120X2+150X3+125X4
S.T.
1) X1+2X2+2X3+2X4<108
2) 3X1+5X2+X4<120
3) X1+X3<25
4) X2+X3+X4>50
Use the microsoft excel solver method...
Previously, you wrote a program named Admission for a college admissions office in which the user...
Previously, you wrote a program named Admission for a
college admissions office in which the user enters a numeric high
school grade point average and an admission test score. The program
displays Accept or Reject based
on those values. Now, create a modified program named
AdmissionModularized in which the grade point average and
test score are passed to a method that returns a string containing
Accept or Reject.
CODE:
using System;
using static System.Console;
class Admission
{
static void Main()...
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