You collect a small sample of 20 fund returns, which turns out to have a sample...
You collect a small sample of 20 fund returns, which turns out to have a sample mean of 7 % and a sample standard deviation of 6 %. Assuming fund returns are normally distributed, what is the lower bound of the 95% confidence interval for fund returns?
The answer should be 4.19. You can use Excel to solve, just show the formulas that were used.
Homework Answers
Using t distribution since sample is less than 20
| Number of Funds(n) | 20 | ||||
| Mean | 7% | ||||
| Standard deviation | 6% | ||||
| t value for 95% confidence interval | 2.093024 | Excel Formula =T.INV(97.5%,19)) | |||
| Lower bound | 4.19% | Formula= 7%-2.093024*6%/(20^0.5) | |||
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You collect a small sample of 20 fund returns, which turns out
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You collect a small sample of 20 fund returns, which turns out to have a sample...
You collect a small sample of 20 fund returns, which turns out to have a sample mean of 6 % and a sample standard deviation of 6 %. Assuming fund returns are normally distributed, what is the lower bound of the 95% confidence interval for fund returns? Enter answer in percents, accurate to two decimal places. I need it to be done on excel, Please SHOW the steps.
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