• Perform certain calculations discussed in the assigned reading in order to derive an answer for each problem.
• use Microsoft Excel to complete each problem and submit a single Excel spreadsheet that contains a separate worksheet (i.e., separate tab) for each problem.
• have each worksheet be clearly labeled to identify the associated problem.
• to show all calculations or other work performed to derive your answer(s) for each problem, have your spreadsheet be fully functional (i.e., configured to allow the reader to not only see all numerical values but also be able to see the underlying formula associated with each calculated value).
• to label your work in each worksheet to clearly identify the nature of each piece of data or calculated value.

In 2011, when the Gallup organization polled investors, 32% rated gold the best long-term investment.  But in April of 2013 Gallup surveyed a random sample of U.S. adults.  Respondents were asked to select the best long-term investment from a list of possibilities.  Only 168 of the 650 respondents chose gold as the best long-term investment.  By contrast, only 83 chose bonds.

• Compute the standard error for each sample proportion .  Compute and describe a 99% confidence interval in the context of the question.
• Do you think opinions about the value of gold as a long-term investment have really changed from the old 32% favorability rate, or do you think this is just sample variability?  Explain.
• Suppose we want to keep the margin of error at 4%, and we still want to construct a 99% confidence interval.  What is the necessary sample size?
• Based on the sample size obtained in part c, suppose 306 respondents chose gold as the best long-term investment.  Compute the standard error for choosing gold as the best long-term investment.  Compute and describe a 99% confidence interval in the context of the question.
• Based on the results of part d, do you think opinions about the value of gold as a long-term investment have really changed from the old 32% favorability rate, or do you think this is just sample variability?  Explain.

Please use ONLY one Excel file to complete this task.