In: Statistics and Probability
A random sample of 40 students is collected and the number of credit hours taken is recorded. The sample mean is computed to be 12.5 hours with a standard deviation of 3 hours. Construct a 95% confidence interval for the mean credit hours taken. Follow 4-step procedure.
Solution :
Given that,
Point estimate = sample mean = = 12.5
Population standard deviation = =3
Sample size n =40
At 95% confidence level the z is ,
= 1 - 95% = 1 - 0.95 = 0.05
/ 2 = 0.05 / 2 = 0.025
Z/2 = Z0.025 = 1.96 ( Using z table )
Margin of error = E = Z/2
* (
/n)
= 1.96 * (3 / 40 )
= 0.93
At 95% confidence interval mean
is,
- E < < + E
12.5- 0.93 < < 12.5+ 0.93
(11.57,13.43 )