A newspaper wants to estimate the proportion of Americans who will vote for Candidate A. A random sample of 1000 voters is selected. Of the 1000 respondents, 526 say that they will vote for Candidate A. Which Excel function would be used to construct a confidence interval estimate?
The correct answer to the following question will be "NORM.S.INV".
Explanation:
The NORM.IN.V function in Excel determines the opposite of the Cumulative Standard Distribution Function for just a value of x which is given, and the standard deviation and mean of the distribution provided. The probability of NORMINV(mean, probability, standard deviation).
In Excel 2010, the standard. S. Inv function is new and is therefore not easily accessible in Excel's earlier versions.
