Statistics

***ALL PROBABILITIES FOR THIS ASSIGNMENT SHOULD BE CALCULATED WITH THE USE OF EXCEL*** ***FOR TESTING PURPOSES, YOU ARE RESPONSIBLE FOR ALSO KNOWING HOW TO MAKE THESE CALCULATIONS BY HAND*** 1. Sherrie has spent the last 5 years working for an appliance repair company, and would like to use the skills that she's acquired to venture out and open her shop. As part of her small business grant proposal, Sherrie would like to estimate the average house call repair bill in her area and wants the estimate to be within $25 of the actual figure. To the best of Sherrie's memory from her time with her previous employer she believes the lowest repair bill given to a customer was roughly $50, whereas the largest was approximately $500. How large a sample should Sherrie take if she wants to be 90% confident of the results? BLANK #1: Is this a question involving mean or proportion? **ANSWER "MEAN" OR "PROPOR- TION" (WITHOUT THE QUOTATION MARKS)* * * BLANK #2: What is the minimum sample size required? 2. Fanshawe College is exploring removing all textbooks from their programs in favour of open sourced materials and in house faculty created content. The administration at Fanshawe would like took de- termine what percent of their student body would approve of such a decision. A college committee has been assigned with the task of determining the level student support with the goal of a 2% mar- gin of error and 99% level of confidence. BLANK #1: Is this a question involving mean or proportion? ***ANSWER "MEAN" OR "PROPORTION" (WITHOUT THE QUOTATION MARKS)*** BLANK #2: What is the minimum sample size required