STATISTICAL TECHNIQUES AND TOOLS
CONFIDENCE INTERVALS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A sample of 45 has mean of 7.1 and Standard Error of 2.3.Construct a 90% Confidence Interval for the population mean µ.
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(3.23, 10.97)
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(6.52, 7.68)
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(6.54, 7.66)
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(3.32, 10.88)
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Explanation:
Detailed explanation-1: -The standard error is most useful as a means of calculating a confidence interval. For a large sample, a 95% confidence interval is obtained as the values 1.96×SE either side of the mean.
Detailed explanation-2: -A 90% confidence interval has a z-score (a critical value) of 1.645. In conclusion, the margin of error is 2.52%.
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