Math Statistics Assignment

1 ) What formula you used to get the CONFIDENCE 50 .40005 and 49 .18541 in the 1st question

2 ) How did you calculate the number of consumers . If you used a calculator i need to know the formula with the figures

3 ) Also what is the NORMSINV and EXEL ? Is that number taken from the z-table

I believe these questions should explain the second section as well since I am not familiar with the terminology NORMSINV , EXEL AND CONFIDENCE . It sounds like you used a calcultor and i need the formulas .call

me at if you have any questions , becuase i will not be infront of the computer . email me the answers as soon as possible

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is the left margin

is the right margin

value could be obtained from the z-table , or using the EXEL function NORMSINV

From the of the NORMSINV function in EXEL

NORMSINV returns the inverse of the standard normal cumulative distribution with a probability as argument of this function . The distribution has a mean of zero and a standard deviation of one

YOU DON 'T NEED THE FORMULA OF THIS FUNCTION ! THE GIVEN ABOVE DEFINITION IS SUFFICIENT

The function NORMSINV returns the values presented in the z-table

3 ) How did you calculate the number of consumers

I 'll try to explain it in other words , then it was done in work . We have the following expression is equal to 49 .18541 . Hence the number of consumers is 21 . However we could derive this value in other way :n (1 .96 115 /50 )2

n 20 .322064

I derive the value 20 .322064 that is more than 20 , hence we need more than 20 consumers , and so we need 21 consumers

You can add this explanation to the work

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hy ) EXEL (more precise Microsoft Office EXEL ) is the part of Microsoft Office (Like MS Word text processor CONFIDENCE returns a value that you can use to construct a confidence interval for a population mean...