Question
All responses need to include excel formulas, I need help with the formulas please include the cell formula.. You are the VP at a car
All responses need to include excel formulas, I need help with the formulas please include the cell formula..
You are the VP at a car dealership. Your boss comes to you one afternoon and asks if you could tell him the average profit per vehicle the dealership makes.He wants the information by the end of the day.Sounds easy enough except that each salesman keeps track of their average profit per vehicle and only 20 salesmen of the 40 employed work at the dealership on a given day.You collect the information below from the salesmen currently on shift.You want to give your boss an answer you are 95% confident in.What do you tell him?
Average per vehicle
$5,125.00 $1,850.00 $4,620.00 $3,448.00 $2,158.00 $2,689.00 $4,896.00 $6,411.00 $5,128.00 $4,169.00 $1,689.00 $4,855.00 $2,177.00 $3,891.00 $4,588.00 $3,485.00 $3,489.00 $2,488.00 $4,812.00 $2,588.00
Calculate the lower and upper confidence limit based on this information. Enter in the name of the data points you need to solve this.
Lower Bound _______ Upper Bound ______
Based on your findings above, what will you tell your boss the average profit is at the company?
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