business 231
Jenny99
BUS231_A1_Firstname_Lastname.docxBusiness 231 – Quantitative Methods
Winter 2021
Assignment 1
Last Name: [INSERT LAST NAME HERE]
First Name: [INSERT FIRST NAME HERE]
Student Number: [INSERT STUDENT NUMBER HERE]
By signing above, I acknowledge that I have not received help from anyone else on this assignment, nor have I given help to anyone else on this assignment. I understand that any violation of the preceding statement will result in a 0 grade on the assignment as per the Academic Integrity Policy for Camosun College students.
Due Date: Friday, January 22nd at 11:59PM.
Total Marks: 10 marks; 10% of total course grade.
Dropbox: Submit your assignment as a WORD document in the appropriate D2L dropbox using the following document naming protocol: BUS231_A1_Firstname_Lastname.docx.
Instructions: This is an open book assignment that must be completed individually. You may refer to any course material available on D2L. Please organize your solutions and show all your work – this includes providing screenshots of relevant Excel output, using the equation editor, and providing units where necessary. Keep all decimal places during intermediate calculations – you may round your final answer to two decimal places, unless stated otherwise.
Accompanying Excel Workbook: BUS231_A1_Data
Question #1
The “Tesla” worksheet in the data pack represents the listing price (measured in dollars) for a random sample of 40 used Tesla Model 3 cars.
a. Construct a 90% confidence interval for the average listing price of a used Tesla Model 3 car. (5 marks)
Confidence Interval Formula: [insert here]
Point Estimate: [insert here]
Excel Formula for z or t: [insert here]
Standard Error: [insert here]
Margin of Error: [insert here]
Lower Confidence Limit: [insert here]
Upper Confidence Limit: [insert here]
Question #2
A random sample of 50 college students were asked the following question: do you use a Netflix subscription paid for by someone else? The results of the survey can be found on the “Netflix” worksheet in the data pack.
a. Construct a 95% confidence interval for the proportion of college students that use a Netflix subscription paid for by someone else. (5 marks)
Confidence Interval Formula: [insert here]
Point Estimate: [insert here]
Excel Formula for z or t: [insert here]
Standard Error: [insert here]
Margin of Error: [insert here]
Lower Confidence Limit: [insert here]
Upper Confidence Limit: [insert here]
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