I’m trying to study for my Excel course and I need some help to understand this question.

In this module you will begin working on Phase 2 of your course project. Continue using the same data set and variables and perform the following analysis:

- Discuss the importance of constructing confidence intervals for the population mean.
- What are confidence intervals?
- What is a point estimate?
- What is the best point estimate for the population mean? Explain.
- Why do we need confidence intervals?

- Based on your selected topic, evaluate the following:
- Find the best point estimate of the population mean.
- Construct a 95% confidence interval for the population mean. Assume that your data is normally distributed and σ, the population standard deviation, is unknown.
- Please show your work for the construction of this confidence interval and be sure to use the Equation Editor to format your equations.
- Write a statement that correctly interprets the confidence interval in context of your selected topic.

- Based on your selected topic, evaluate the following:
- Find the best point estimate of the population mean.
- Construct a 99% confidence interval for the population mean. Assume that your data is normally distributed and σ, the population standard deviation, is unknown.
- Please show your work for the construction of this confidence interval and be sure to use the Equation Editor to format your equations.

- Write a statement that correctly interprets the confidence interval in context of your selected topic.

- Compare and contrast your findings for the 95% and 99% confidence interval.
- Did you notice any changes in your interval estimate? Explain.
- What conclusion(s) can be drawn about your interval estimates when the confidence level is increased? Explain.

This assignment should be formatted using APA guidelines and a minimum of 2 pages in length. |