THis is a question I am supposed to answer: 2.Suppose you are trying to estimate

Question

THis is a question I am supposed to answer:

2.Suppose you are trying to estimate the average miles per gallon for a new brand of car. You take a random sample of 40 cars, and, for this sample, the average miles per gallon is 32 and the standard deviation for this sample is 2.2. Answer the following questions in a Word document:

•What is the population mean you are trying to estimate? THe mean 32 or do I have to say 32 miles per gallon?

•What value is the point estimate for the population mean? Describe, in your own words, what the point estimate represents. I have no clue what a Point Estimate means nor how to calculate. THe instructor really is not helping out.

•Suppose you would like to construct a 90 percent confidence interval. What would be the margin of error for this interval? Again, do not know.

•What would be the lower and upper limits for this 90 percent confidence interval? Again, do not know.

•Now that you have constructed the interval, define its meaning in your own words. Again, do not know.

Now no one has to give me the answer but answer me this, should we be able to do the formulas by hand? Or is it ok to use Excel to figure this out. Our instructor stated it is ok but I feel that this has hampered our understanding of statistics. Has relying on Excel hurt the students understanding? Thanks.

Again, please do not answer the questions...I am just sending this to you and letting you know that our instructor is letting us use Excel but I do not know what or where to plug things in.

Explanation / Answer

Without understanding and doing it by formulas (manually), you cannot understand fundamentals. Moreover excel uses the same formula to provide you with answers. Therefore if you don't know what formula to use you couldn't know which function of data analysis you would use in excel.

But nowadays with so many data and to reduce manual calculation efforts, excel is being used & is a requisite for higher education or in jobs. So if your instructor has let you use excel, so practise both in excel as well as doing manually.

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