Excel: CI for Means and Proportions

Project Description:

The present study shows data for delivery times of international shipments for a logistics company. The company promotes its international delivery as a service that takes up to 7 days. After receiving multiple complaints that the delivery time is exceeding 7 days, the quality assurance team decided to collect data from a random sample to analyze the delivery times and decide if they should adjust the delivery time the company promises customers with. We will find the average and standard deviation for the delivery times for the random sample of shipments. We will find values from the probability table using excel functions to construct confidence intervals using different confidence levels. We will use the confidence intervals to make a conclusion about the population. We will also analyze the width of the confidence levels. Assume that the distribution of the delivery times is normal and the sample is randomly selected.

Just follow a very short 20 steps.