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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

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