1. Using the Data Set, create and calculate the following in ExcelÂ®: Determine the range of values...

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1. Using the Data Set, create andcalculate the following in Excel^Â®:
Determine the range of values in which you would expect to findthe average weekly sales for the entire sales force in your company90% of the time, and calculate the following:
A. The impact of increasing the confidence level to 95%
B. The impact of increasing the sample size to 150, assuming thesame mean and standard deviation, but allowing the confidence levelto remain at 90%
Data Set:
SAMPLE OF WEEKLYSALES
Sales Rep # AverageWeekly Sales($) Week # Weekly Sales($) - Rep A Weekly Sales($) - Rep B
1 1228 1 4657 5839
2 7374 2 6133 2602
3 1055 3 3438 2830
4 1859 4 7394 4763
5 3938 5 4327 3740
6 1692 6 2552 2315
7 569 7 7063 1599
8 4059 8 7844 1629
9 3689 9 6898 2416
10 607 10 4003 2107
11 1370 11 6884 4237
12 3735 12 4007 6322
13 3305 13 7214 3710
14 7228 14 2358 5890
15 6279 15 7745 5119
16 1671 16 1337 5184
17 5708 17 1052 3439
18 2569 18 6056 4828
19 4163 19 1495 3667
20 1519 20 3530 3518
21 7734 21 4749 6073
22 784 22 3833 5566
23 6766 23 7869 4555
24 7261 24 4541 5867
25 5034 25 6882 6039
26 7115 26 3868 1032
27 6291 27 5934 4834
28 6287 28 4447 3687
29 2080 29 5504 5500
30 7621 30 5554 4659
31 1047
32 6517
33 5172
34 3876
35 5429
36 4538
37 3786
38 2510
39 4863
40 7246
41 1175
42 641
43 4269
44 7034
45 3406
46 2256
47 3182
48 5178
49 4428
50 1189

Answer & Explanation Solved by verified expert

3.8 Ratings (384 Votes)

AnswerDetermine the range of values in which you would expect to findthe average weekly sales for the entire sales force in your company90 of the timeWe want to calculate the 90 confidence interval of averageweekly salesThe significance level We want to find the critical value that is From the standard normal tables See Answer

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SAMPLE OF WEEKLYSALES
Sales Rep #	AverageWeekly Sales($)	Week #	Weekly Sales($) - Rep A	Weekly Sales($) - Rep B
1	1228	1	4657	5839
2	7374	2	6133	2602
3	1055	3	3438	2830
4	1859	4	7394	4763
5	3938	5	4327	3740
6	1692	6	2552	2315
7	569	7	7063	1599
8	4059	8	7844	1629
9	3689	9	6898	2416
10	607	10	4003	2107
11	1370	11	6884	4237
12	3735	12	4007	6322
13	3305	13	7214	3710
14	7228	14	2358	5890
15	6279	15	7745	5119
16	1671	16	1337	5184
17	5708	17	1052	3439
18	2569	18	6056	4828
19	4163	19	1495	3667
20	1519	20	3530	3518
21	7734	21	4749	6073
22	784	22	3833	5566
23	6766	23	7869	4555
24	7261	24	4541	5867
25	5034	25	6882	6039
26	7115	26	3868	1032
27	6291	27	5934	4834
28	6287	28	4447	3687
29	2080	29	5504	5500
30	7621	30	5554	4659
31	1047
32	6517
33	5172
34	3876
35	5429
36	4538
37	3786
38	2510
39	4863
40	7246
41	1175
42	641
43	4269
44	7034
45	3406
46	2256
47	3182
48	5178
49	4428
50	1189