Abstract
This chapter explains how to find the 95% confidence interval about the mean for a set of data, and how to test hypotheses about your data using this confidence interval. You will learn how to estimate the population mean (average) for a group of people (or objects) at a 95% confidence level so that you are 95% confident that the population mean is between a lower limit of the data and an upper limit of the data. The formula for computing this confidence interval is presented, explained, and a sample problem is given using your calculator. You will then learn how to use Excel commands to determine the 95% confidence interval about the mean using Excel’s TINV function. The second half of this chapter explains hypothesis testing and how you can test hypotheses about your data using Excel commands to find the 95% confidence about the mean for your data. Seven steps are presented for this test, and you will be given specific explanations of how to write both the result and the conclusion of a hypothesis test. Alternative ways to summarize the result of a hypothesis test are also presented. Three practice problems are given at the end of the chapter to test your Excel skills, and the answers to these problems appear in Appendix A of this book. An additional practice problem for each chapter is presented in the Practice Test given in Appendix B along with answers in Appendix C of this book.
Keywords
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
References
Black, K. Business Statistics: for Contemporary Decision Making (6th ed.). Hoboken, NJ: John Wiley& Sons, Inc., 2010.
Keller, G. Statistics for Management and Economics (8th ed.). Mason, OH: South-Western Cengage learning, 2009.
Levine, D.M. Statistics for Managers using Microsoft Excel (6th ed.). Boston, MA: Prentice Hall/Pearson, 2011.
McDaniel, C. and Gates, R. Marketing Research (8th ed.). Hoboken, NJ: John Wiley & Sons, Inc., 2010.
Salkind, N.J. Statistics for People Who (think they) Hate Statistics (2nd Excel 2007 ed.). Los Angeles, CA: Sage Publications, 2010.
Weiers, R.M. Introduction to Business Statistics (7th ed.). Mason, OH: South-Western Cengage Learning, 2011.
Zikmund, W.G. and Babin, B.J. Exploring Marketing Research (10th ed.). Mason, OH: South-Western Cengage learning, 2010.
Author information
Authors and Affiliations
Rights and permissions
Copyright information
© 2018 Springer International Publishing AG, part of Springer Nature
About this chapter
Cite this chapter
Quirk, T.J. (2018). Confidence Interval About the Mean Using the TINV Function and Hypothesis Testing. In: Excel 2016 in Applied Statistics for High School Students. Excel for Statistics. Springer, Cham. https://doi.org/10.1007/978-3-319-89993-0_3
Download citation
DOI: https://doi.org/10.1007/978-3-319-89993-0_3
Published:
Publisher Name: Springer, Cham
Print ISBN: 978-3-319-89992-3
Online ISBN: 978-3-319-89993-0
eBook Packages: Mathematics and StatisticsMathematics and Statistics (R0)