Use the CONFIDENCE-NORM (see note if you are using Excel 2007) function in cell G21 to calculate a 95% confidence interval for the forecasted Firebox upgrade kits sales you calculated in cell G17 Calculate the upper bound for the confidence interval for Firebox combo sales in cell G23. Calculate the lower bound for the confidence interval for Firebox combo sales in cell G25 Firebox Sales by Month Statistical Anal Month Firebox Deluxe Combo Firebox U Kit $59.97 $99.95 $99.95 $139.93 $765.62 787.60 631.68 $527.74 S693.6 $493.75 $549.72 $411.79 $154.92 Response Task $1,139.87 $2,409.72 $3,389.17 $3,091.43 $3,879.28 $6,078.88 3,660.29 $3,552.34 $4,481.21 $3,051.44 $3,469.39 $4,563.21 $3,795.36 13 Number of months in the dataset. $3,582 Average Firebox Combo Sales. Average Firebox Upgrade Sales. Population standard deviation*for Firebox Combos. Population standard deviation*for Firebox Upgrades. $417 10 1111.37 12 261.84 10 0.69 12 13 Correlation between Firebox combo sales and Firebox upgrade sales. 16 $582.49 How many dollars in upgradesales would you expect to realize if combo sales are $4,600 in month 14** 18 19 20 21 Combo sales Howard, the manager of QuickStove, LLC, has decided to examine the relationship between sales for Firebox combo sets and Firebox upgrade kits. He has compiled 13 months of sales data for both items. Conduct therequested statistical analyses to examine thenature of the relationship between combo sales and upgrade sales. After conducting some market research, Howard is confident that Firebox combo kit sales will total about $4,600 next month. Based on the relationship between combo sales and upgrade sales, project the likely upgrade kit sales for next month. Construct a 95% confidence interval for your projected upgrade sales next month $4,600 What is the 95% confidence interval for upgrade sales? 23 24 25 26 27 28 29 30 31 32 upper 95% confidence interval level Lower 95% confidence interval level Note: the STDEV.P function is not available in Excel 2007. Ifyou are using Excel 2007, use the STDEVP function instead *Note: the FORECAST.LINEAR function is not available prior to Excel 2016. ifyou are using a prior version of Excel, use the FORECAST function inste Note: the CONFIDENCE.NORM function is not available in Excel 2007. Ifyou are using Excel 2007, use the CONFIDENCE function instead 34 Use the CONFIDENCE-NORM (see note if you are using Excel 2007) function in cell G21 to calculate a 95% confidence interval for the forecasted Firebox upgrade kits sales you calculated in cell G17 Calculate the upper bound for the confidence interval for Firebox combo sales in cell G23. Calculate the lower bound for the confidence interval for Firebox combo sales in cell G25 Firebox Sales by Month Statistical Anal Month Firebox Deluxe Combo Firebox U Kit $59.97 $99.95 $99.95 $139.93 $765.62 787.60 631.68 $527.74 S693.6 $493.75 $549.72 $411.79 $154.92 Response Task $1,139.87 $2,409.72 $3,389.17 $3,091.43 $3,879.28 $6,078.88 3,660.29 $3,552.34 $4,481.21 $3,051.44 $3,469.39 $4,563.21 $3,795.36 13 Number of months in the dataset. $3,582 Average Firebox Combo Sales. Average Firebox Upgrade Sales. Population standard deviation*for Firebox Combos. Population standard deviation*for Firebox Upgrades. $417 10 1111.37 12 261.84 10 0.69 12 13 Correlation between Firebox combo sales and Firebox upgrade sales. 16 $582.49 How many dollars in upgradesales would you expect to realize if combo sales are $4,600 in month 14** 18 19 20 21 Combo sales Howard, the manager of QuickStove, LLC, has decided to examine the relationship between sales for Firebox combo sets and Firebox upgrade kits. He has compiled 13 months of sales data for both items. Conduct therequested statistical analyses to examine thenature of the relationship between combo sales and upgrade sales. After conducting some market research, Howard is confident that Firebox combo kit sales will total about $4,600 next month. Based on the relationship between combo sales and upgrade sales, project the likely upgrade kit sales for next month. Construct a 95% confidence interval for your projected upgrade sales next month $4,600 What is the 95% confidence interval for upgrade sales? 23 24 25 26 27 28 29 30 31 32 upper 95% confidence interval level Lower 95% confidence interval level Note: the STDEV.P function is not available in Excel 2007. Ifyou are using Excel 2007, use the STDEVP function instead *Note: the FORECAST.LINEAR function is not available prior to Excel 2016. ifyou are using a prior version of Excel, use the FORECAST function inste Note: the CONFIDENCE.NORM function is not available in Excel 2007. Ifyou are using Excel 2007, use the CONFIDENCE function instead 34