In: Statistics and Probability
Here, Population standard deviation is not given, then we will
use student t distribution
We want to find 90% confidence interval for population mean
μ
The formula of confidence interval for population mean μ is as
follow:
Lower limit =
Upper limit =
Where E is the margin of error
the formula of margin of error is as follows:
given information is -
For confidence level =0.1
(I have used excel to obtain this, command is "=tinv(probability,df), here, probability =0.1 , df =25)
Therefore,
Lower limit =
= 678.27 - 27.77 =650.50
Upper limit =
=678.27 + 27.77 =706.04
Thus, 90% confidence interval for population mean μ is
(650.50 ,706.04 )
Interpretation: We are 90% confident that this interval will include population mean μ.
(Please give thumps up, if you like the answer )