Confused on the wording: Determine the range of values in which you would expect...

MicheleC

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Determine the range of values in which you would expect to find the average weekly sales for the entire sales force in your company 90% of the time.
Do I start with getting the range of values of column and then what formula is the correct fx in excel?



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Determine the range of values in which you would expect to find the average weekly sales for the entire sales force in your company 90% of the time.
Do I start with getting the range of values of column and then what formula is the correct fx in excel?



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Are you familiar with z-transformation of normally distributed data?
 
Determine the range of values in which you would expect to find the average weekly sales for the entire sales force in your company 90% of the time.
Do I start with getting the range of values of column and then what formula is the correct fx in excel?

I'd take it to mean that they want a 90% confidence interval for the mean of a sample. Does that sound right to you?

You haven't said what data you were given; is it one week's sales data, or something else?

Please state the entire problem (omitting any large amount of data you might have been given), so we can be sure of the context of your question. If you haven't read our usage guidelines, please read at least this summary, which explains what you should include with a question, and why.
 
Determine the range of values in which you would expect to find the average weekly sales for the entire sales force in your company 90% of the time.
Calculate the impact of increasing the confidence level to 95%.
Calculate the impact of increasing the sample size to 150, assuming the same mean and standard deviation, but allowing the confidence level to remain at 90%.


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Once I know where I am starting, I should be ok.



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Determine the range of values in which you would expect to find the average weekly sales for the entire sales force in your company 90% of the time.
Calculate the impact of increasing the confidence level to 95%.
Calculate the impact of increasing the sample size to 150, assuming the same mean and standard deviation, but allowing the confidence level to remain at 90%.

Is there no data? There is no way to answer this without some numbers being given!

If it's a lot, you don't need to list it all, but we need to know what data it is. Or are you told only details like the mean and standard deviation of the sample?

How big is the sales force? What was the sample size before increasing it to 150, and is that the same as the sales force, or just a small sample of it?

Finally, do you know how to calculate a confidence interval? If you know anything, we want to see how much you can do.
 
AverageWeekly Sales($)
1228
7374
1055
1859
3938
1692
569
4059
3689
607
1370
3735
3305
7228
6279
1671
5708
2569
4163
1519
7734
784
6766
7261
5034
7115
6291
6287
2080
7621
1047
6517
5172
3876
5429
4538
3786
2510
4863
7246
1175
641
4269
7034
3406
2256
3182
5178
4428



Sent from my iPhone using Tapatalk
 
AverageWeekly Sales($)
1228
7374
1055
1859
3938
1692
569
4059
3689
607
1370
3735
3305
7228
6279
1671
5708
2569
4163
1519
7734
784
6766
7261
5034
7115
6291
6287
2080
7621
1047
6517
5172
3876
5429
4538
3786
2510
4863
7246
1175
641
4269
7034
3406
2256
3182
5178
4428



Sent from my iPhone using Tapatalk
How many data points are there?

Can you calculate the average of the numbers given?

Can you calculate the standard deviation of the numbers given?
 
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