Firm_ID	Economic_Sector	HQ_State	Number_of_Employees	Annual_Operating_Profit_USD
7037	Oil & Gas	TX	244	30605334.96
4867	Agriculture	OK	346	42024794.15
5727	Oil & Gas	TX	288	38320239.51
3009	Services	OK	126	17093240.51
5023	Agriculture	TX	534	63396346.07
9742	Services	OK	88	16320284.14
6625	Oil & Gas	TX	503	56356310.14
9919	Oil & Gas	OK	214	32866716.76
8879	Manufacturing	TX	297	36808771.1

7724	Services	TX	489	54541399.42
1714	Manufacturing	OK	295	41469609.02
4379	Services	OK	377	44562124.75
6302	Manufacturing	TX	464	50425625
9822	Services	TX	451	53321179.39
2525	Services	OK	551	59308022.56
6653	Services	OK	102	23162658.11
9405	Oil & Gas	OK	388	50719520.83
4997	Services	TX	498	58762056.38
4298	Services	OK	305	42464705.98

8787	Agriculture	OK	367	48734050.82
1233	Agriculture	OK	138	23772050.15
6411	Manufacturing	OK	498	62662442
5180	Oil & Gas	TX	17	16199932.25
1540	Oil & Gas	TX	51	9869880.623
1337	Manufacturing	TX	521	56654298.58
5343	Agriculture	OK	529	57405391.75
9144	Agriculture	TX	485	60965540.32
2470	Agriculture	TX	72	16264378.81
2101	Oil & Gas	TX	225	35300331.05

3668	Manufacturing	TX	415	47990639.48
9776	Manufacturing	OK	251	35530296.38
9054	Manufacturing	OK	90	21888730.45
7932	Manufacturing	OK	500	63450023.51
5400	Manufacturing	OK	102	20591885.14
8459	Manufacturing	OK	130	19896521.45
8651	Oil & Gas	TX	69	17555827.19
3860	Services	OK	270	41704075.56
8868	Oil & Gas	TX	24	16496701.76
2231	Oil & Gas	OK	22	14754548.74

3931	Agriculture	TX	539	67301781.26
8003	Oil & Gas	TX	157	18961551.43
2282	Manufacturing	TX	269	32363704.31
8703	Oil & Gas	TX	349	39500679.01
7613	Services	TX	422	47443095.35
6675	Oil & Gas	TX	519	64955147.54
3430	Services	OK	389	44425132.78
9006	Agriculture	OK	30	9270224.805
1145	Oil & Gas	TX	181	26937351.76
3597	Services	TX	97	20374393.51

7842	Manufacturing	OK	327	36109577.57
8860	Manufacturing	OK	87	23292349.21
3462	Services	TX	566	60387500.53
7169	Manufacturing	OK	158	22293844.05
7591	Services	OK	373	45655991.27
2675	Agriculture	TX	244	38194773.17
2651	Agriculture	OK	207	25869491.7
9978	Services	OK	369	41850628.07
4311	Agriculture	TX	372	48945229.12
7081	Oil & Gas	OK	457	60149117.32

4195	Agriculture	TX	370	45674674.37
4689	Services	TX	68	11833424.02
3828	Oil & Gas	OK	346	46939635.54
4883	Services	OK	327	45365953.58
3520	Agriculture	OK	39	11879538.17
1533	Manufacturing	TX	167	24485753.64
3285	Oil & Gas	OK	89	16250485.38
8276	Oil & Gas	TX	387	42284230.55
5142	Agriculture	TX	304	44783093.24
4121	Oil & Gas	TX	252	37277434.04

3975	Services	OK	96	14745164.28
6957	Agriculture	OK	494	57553551.3
2679	Agriculture	OK	316	35243327.86
6563	Services	TX	219	25502115.66
7973	Oil & Gas	TX	369	51546125.32
4831	Manufacturing	OK	88	17764968.03
9562	Agriculture	TX	327	45972325.59
8867	Oil & Gas	TX	27	13604325.09
7973	Services	TX	558	59026431
3550	Oil & Gas	TX	513	57213725.36

8700	Agriculture	TX	239	30461953.33
2406	Manufacturing	TX	417	50379397.48
9418	Services	TX	117	19913357.67
3130	Services	TX	420	46349907.37
7551	Manufacturing	TX	59	11730001.15
2156	Oil & Gas	OK	97	18515939.75
8780	Agriculture	TX	491	54990379.61
9462	Services	OK	309	40372734.65
4198	Services	TX	342	47118464.79
9754	Agriculture	TX	563	70172222.58

3203	Oil & Gas	OK	161	30294820.26
7081	Services	OK	260	34665392.62
6033	Services	TX	449	58084526.21
9653	Services	TX	72	21825394.34
4395	Oil & Gas	TX	196	22600311.24
5341	Services	TX	344	42520561.52
3534	Agriculture	OK	459	59687424.1
4527	Oil & Gas	OK	86	13233975.64
5927	Manufacturing	TX	68	19953781.7
1998	Agriculture	OK	509	61652304.36

2291	Services	OK	290	37357176.44

1. You must use Excel for this exercise. Refer to Operating_Profit_Data, uploaded under the Files section on Canvas. Assuming that the data in hand is from a representative sample of medium-size firms in Oklahoma and Texas, use the sample information (as given by Number_of_Employees variable) to estimate the population mean for number of employees. For this, we employ a 95% Confidence Interval Estimation.
   • What is the critical value that you used for your estimation?
   • Did you obtain that critical value from Normal Distribution or Student's t Distribution? Explain why.
   • What is the Excel command that you used to compute the critical value?
   • What is the lower limit of your 95% Confidence Interval?
   • What is the upper limit of your 95% Confidence Interval?

2. Given your answer to Question No. 1, test for the following hypotheses at 5% level of significance

• H₀: Population mean number of employees among medium-size firms in Oklahoma and Texas is equal to 250.
• Do you reject the above hypothesis? Explain why or why not, in a short paragraph
• H₀: Population mean number of employees among medium-size firms in Oklahoma and Texas is equal to 300.
• Do you reject the above hypothesis? Explain why or why not, in a short paragraph