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Your boss at RAS Direct has been impressed with your statistics skills so far. They request that you continue analyzing the data on their clientele by providing confidence intervals and estimating the sample sizes needed to collect data about the company's clientele.

[ANSWER] SCENARIO YOUR BOSS AT RAS DIRECT HAS BEEN IMPRESSED WITH YOUR STATISTICS SKILLS SO FAR.

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Scenario

Your boss at RAS Direct has been impressed with your statistics skills so far. They request that you continue analyzing the data on their clientele by providing confidence intervals and estimating the sample sizes needed to collect data about the company’s clientele.

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Competency

Develop a confidence interval for a population parameter.

Project Deliverable tie to Competency 

In the third assignment, you will construct and interpret confidence intervals, which is a fundamental concept in inferential statistics. By estimating population parameters such as the mean and proportion using sample data, you will gain a deeper understanding of how statistics can be used to make informed decisions under uncertainty. You will apply Excel formulas to construct confidence intervals, interpret their meaning in context, and determine the appropriate sample size needed to achieve a desired level of precision.

Scenario

Your boss at RAS Direct has been impressed with your statistics skills so far. They

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request that you continue analyzing the data on their clientele by providing confidence intervals and estimating the sample sizes needed to collect data about the company’s clientele.

 

Instructions

The Excel Workbook contains six tabs. The first tab contains the instructions. The second tab, labeled “data”, contains the raw data that will be used for your calculations. The next four tabs contain questions for you to answer. Ensure that you are completely answering all questions with explanations, and your work is shown in Excel when needed.

Submission Requirements

    • You must submit the Workbook with the completed calculations, answers, and analysis.

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