I love peanut M&M’s. I’d like to know how many ounces of M&M’s I really get in the 10.7 oz “Sharing Size” bag (I don’t share them). I took a random sample of 15 of the “Sharing Size” bags and recorded the ounces in each bag. I want you to use that data to build a 95% confidence interval using Excel. Be sure to write a sentence that tells what the interval means and whether I can conclude that there are 10.7 oz in the “Sharing Size” bag. You will have to compute the mean, standard deviation and count of the data set. You can do this either using each function in Excel, or finding the Summary Statistics and pointing Excel to those cells. Be sure to write a sentence that tells what the interval means and explain any steps that aren’t clear from your Excel output.
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