Hypothesis test for a population mean in Figure 9.9(b) on page 368 (data file: CreditCd.xlsx):
The Data Analysis ToolPak in Excel does not explicitly provide for one-sample tests of hypotheses. A one-sample test can be conducted using the Descriptive Statistics component of the Analysis ToolPak and a few additional computations using Excel.
Descriptive statistics:
• Enter the interest rate data from Table 9.3 (page 367) into cells A2.A16 with the label Rate in cell A1.
• Select Data: Data Analysis : Descriptive Statistics.
• Click OK in the Data Analysis dialog box.
• In the Descriptive Statistics dialog box, enter A1.A16 into the Input Range box.
• Place a checkmark in the “Labels in first row” check box.
• Under output options, select “New Worksheet Ply” to have the output placed in a new worksheet and enter the name Output for the new worksheet.
• Place a checkmark in the Summary Statistics checkbox.
• Click OK in the Descriptive Statistics dialog box.
The resulting block of descriptive statistics is displayed in the Output worksheet and the entries needed to carry out the test computations have been entered into the range D3.E6.