A sampling of a lot of soybean meal gave the following composition for Lysine in (grams/kilogram):
Do the following:
a) Construct a 99% two sided confidence interval for (std. deviation)^2.
b) Calculate a 99% lower confidence bound for (std deviation)^2.
c) Calculate a 90% lower confidence bound for (std deviation).
d) Compare the intervals computed.
(a) Variance for the given data = (sigma)^2 = 3.658
Standard error of (sigma)^2 = SE = (sigma)^2 * sqrt(2/n) = 3.658 * sqrt(2/10) = 1.636
The 99% CI for the variance = [variance - 2.576 * SE, ...
In about 160 words, a neat, step-by-step solution is provided which outlines how to construct a two-sided confidence interval and lower confidence bound. All calculations are provided.