In: Economics
If X=119, σ=29, and n=33, construct a 95% confidence interval estimate of the population mean,
___< U <___
n,number of observations=33
Standard deviation=29
Sample Mean=119
For 95% confidence interval the value of z-statistic is=1.96
Now we know the CI is calculated using the formulae:
=119-1.96(29/(33)^0.5)<=u<=119+1.96(29/(33)^0.5)
=119.1-9.89<=u<=119.1+9.89
=109.11<=u<=128.99 is the confidence interval of the population mean.