Microsoft Office Tutorials and References
In Depth Information
Chapter 3
Confidence Interval About the Mean
Using the TINV Function
and Hypothesis Testing
This chapter focuses on two ideas: (1) finding the 95 % confidence interval about
the mean, and (2) hypothesis testing.
Let’s talk about the confidence interval first.
3.1 Confidence Interval About the Mean
In statistics, we are always interested in estimating the population mean. How do
we do that?
3.1.1 How to Estimate the Population Mean
Objective: To estimate the population mean, l
Remember that the population mean is the average of all of the people in the
target population. For example, if we were interested in how well adults ages 25–
44 liked a new flavor of Ben & Jerry’s ice cream, we could never ask this question
of all of the people in the U.S. who were in that age group. Such a research study
would take way too much time to complete and the cost of doing that study would
be prohibitive.
So, instead of testing everyone in the population, we take a sample of people in
the population and use the results of this sample to estimate the mean of the entire
population. This saves both time and money. When we use the results of a sample
T. J. Quirk et al., Excel 2010 for Biological and Life Sciences Statistics,
DOI: 10.1007/978-1-4614-5779-4_3,
Springer Science+Business Media New York 2013
37
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