In: Finance
A botanist wishes to estimate the typical number of seeds for a certain fruit. She samples 60 specimens and counts the number of seeds in each. Use her sample results (mean = 67.4, standard deviation = 16.8) to find the 95% confidence interval for the number of seeds for the species. Enter your answer as an open-interval (i.e., parentheses) accurate to 3 decimal places. 95% C.I. =
Answer:
Confidence Interval:
where,
= mean of the sample , here sample is 60 specimens and counts number of seeds
z = z value for 95% of confidence interval
- standard deviation
n = number of intervals
Here, it is given that it is open interval hence we calculate value on both sides i.e. upper and lower side
therefore,
Confidence Interval:
= 67.4 1.96 x (16.8 / )
= 67.4 4.251
for Lower end C.I. = 67.4 - 4.251 = 63.149
for Upper end C.I. = 67.4 + 4.251 = 71.651
Hence probability for number of seeds for certain fruits at 95% confidence Interval for lower end be 63.149
and probability for number of seeds for certain fruits at 95% confidence Interval for upper end be 71.651