Confidence interval for mean
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Confidence interval for the population mean: Use of the t distribution
A certain brokerage house wants to estimate the mean daily return on a certain stock. A random sample of 10 days yields the following return percentages:
2.46 2.54, -2.08, 0.72, 0.54, -0.47, -0.62, -2.01, -2.48, 2.36
If we assume that the returns are normally distributed, find a 90% confidence interval for the mean daily return on this stock. Then complete the table below.
Carry your intermediate computations to at least three decimal places. Round your answers to one decimal place.
What is the lower limit of the confidence interval?
What is the upper limit of the confidence interval?
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Solution Summary
The solution provides step by step method for the calculation of confidence interval for mean . Formula for the calculation and Interpretations of the results are also included. Interactive excel sheet is included. The user can edit the inputs and obtain the complete results for a new set of data.
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