00:01
So, to calculate the sample mean number of minutes required to schedule an award flight by telephone, you need to find the average of the data set flights, and you can do this in excel by the following steps.
00:16
Number one, open excel and enter your data into a column.
00:20
Let's assume in column a from a1 to a50.
00:35
Number two, in an empty cell, use the following formula to calculate the mean.
00:53
Number three, press enter and excel will calculate the sample mean.
01:00
The result will be the sample mean number of minutes required to schedule an award flight by telephone.
01:19
Part b, press enter and in an empty cell, calculate the standard error of the mean, sem.
01:34
So, you would do equals standard ev a1 a150 over square root of 150.
01:55
So, assuming the sem is calculated in cell b2, calculate the margin of error using the z -score for a 95 % confidence interval, which is 196.
02:13
Now calculate the lower and upper bounds of the confidence interval.
02:19
Lower bound and upper bound, which would be the sample mean minus margin of error, and this would be the sample mean plus the margin of error.
02:33
So, if the sample mean is in cell b1 and the moe is in cell b3, the lower bound can be calculated as, and the upper bound would be.
02:49
So, the 95 % confidence interval will be between the lower and upper bounds...