Confidence interval for mean
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Suppose a sample of 50 is taken from a population with a standard deviation of 27 and that the sample mean is 86. Establish a 95.5% interval estimate for the population mean. Suppose, instead, that the sample size was 5000. Establish a 95.5% interval estimate for the population mean. Why might you prefer one estimate over the other?
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Step-by-step method for computing confidence interval for mean is given in the answer.
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Sampling
Suppose a sample of 50 is taken from a population with a standard deviation of 27 and that the sample mean is 86. Establish a 95.5% interval estimate for the population mean, Suppose, instead, that the sample size was 5000. Establish a 95.5% interval estimate for the population mean. ...
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