Question

Step 1

**Obtain the mean and standard deviation of ratings for the random sample of 50 business travelers of Miami:**

**Excel procedure to find the mean and standard deviation:**

Step 1: Enter the values of ratings from A2:A51.

Step 2: Obtain the mean in cell A52, by entering the formula “=AVERAGE(A2:A51)”.

Step5: Obtain the standard deviation in cell A53, by entering the formula “=STDEVA(A2:A51)”.

Step 2

**Confidence interval estimate of population mean using t–distribution:**

The required conditions for using *t *distribution to estimate the confidence interval about mean is given below:

- The population standard deviation σ must be unknown.
- Either the sample size (
*n*) must be greater than 30 or the population must be normally distributed.

Here, the population standard deviation is unknown and the sample size of ratings is 50 (>30).

The confidence interval estimate of population mean using *t–*distribution is,

Step 3

**Obtain the critical value:**

The required confidence level is 100*(1–α)% = 95%.

From the right tailed *t-*values of *t-...*

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