Question

In: Statistics and Probability

One can calculate the 95% confidence interval for the mean with the population standard deviation known....

One can calculate the 95% confidence interval for the mean with the population standard deviation known. This will give us an upper and a lower confidence limit. What happens if we decide to calculate the 99% confidence interval?

Your task for this discussion is as follows:

  1. Describe how the increase in the confidence level has changed the width of the confidence interval. Do the same for the confidence interval set at 80%.
  2. Include an example with actual numerical values for the intervals in your post to help with your explanations.

Solutions

Expert Solution


Related Solutions

One can calculate the 95% confidence interval for the mean with the population standard deviation known....
One can calculate the 95% confidence interval for the mean with the population standard deviation known. This will give us an upper and a lower confidence limit. What happens if we decide to calculate the 99% confidence interval? Describe how the increase in the confidence level has changed the width of the confidence interval. Do the same for the confidence interval set at 80%. Include an example with actual numerical values for the intervals in your post to help with...
one can calculate the 95% confidence interval for the mean with the population standard deviation knowing...
one can calculate the 95% confidence interval for the mean with the population standard deviation knowing this gives us an upper and lower confidence limit what happens if we decide to calculate the 99% confidence interval describe how the increase in the confidence level has changed the width of the confidence interval
For normal population with known standard deviation, the x% confidence interval for the population mean µ...
For normal population with known standard deviation, the x% confidence interval for the population mean µ has a lower end point (z times the standard error) below the sample mean and a upper end point (z times the standard error) above the sample mean. That is, the x% CI is given as Sample mean ± z *standard error For 95% CI, the value for z is Answer 1Choose...2.581.6451.280.9751.96 For 80% CI, the value for z is Answer 2Choose...2.581.6451.280.9751.96 For 90%...
Calculate the two-sided 95% confidence interval for the population standard deviation (sigma) given that a sample...
Calculate the two-sided 95% confidence interval for the population standard deviation (sigma) given that a sample of size n=8 yields a sample standard deviation of 7.96.
Calculate the Mean, Median, Standard Deviation, Coefficient of Variation and 95% population mean confidence intervals for...
Calculate the Mean, Median, Standard Deviation, Coefficient of Variation and 95% population mean confidence intervals for property prices of Houses based on the following grouping:  Proximity of the property to CBD Note: Calculate above statistics for both “Up to 5KM” and “Between 5KM and 10KM”  Number of bedrooms Note: Calculate above statistics for “One bedroom”, “Two bedrooms” and “Three bedrooms or more”  Number of bathrooms Note: Calculate above statistics for “One bathroom”, “Two bathrooms”, “Three bathrooms or...
Construct a 95% confidence interval for the population standard deviation of a random sample of 15...
Construct a 95% confidence interval for the population standard deviation of a random sample of 15 crates which have a mean weight of 165.2 points and a standard deviation of 12.9 pounds. Assume the population is normallyn distributed. A. 9.9, 18.8 B. 9.4, 20.3 Please show work.
A confidence interval for the population mean when the population follows the normal distribution and the population standard deviation is known is computed by? Provide examples.
Question 3 A confidence interval for the population mean when the population follows the normal distribution and the population standard deviation is known is computed by? Provide examples. Question 6 What are the factors that determine the sample size? How is sample size calculated for estimating the population mean? Provide examples
We wish to develop a confidence interval for the population mean. The population standard deviation is...
We wish to develop a confidence interval for the population mean. The population standard deviation is known. We have a sample of 40 observations. We decide to use the 92 percent level of confidence. The appropriate value of z is: a)1.96 b)1.65 c)2.58 d)1.75 2.    A random sample of 90 days at a coffee shop produces a mean daily sales of $1200. The standard deviation of the population of daily sales is $210. What is the 99% confidence interval for the...
95% Confidence Interval: 86.19 ± 0.364 (85.8 to 86.6) "With 95% confidence the population mean is...
95% Confidence Interval: 86.19 ± 0.364 (85.8 to 86.6) "With 95% confidence the population mean is between 85.8 and 86.6, based on 33945 samples." Short Styles: 86.19 (95% CI 85.8 to 86.6) 86.19, 95% CI [85.8, 86.6] Margin of Error: 0.364 What is the impact of your margin of error on your findings? Explain. Is there enough evidence to reject the null hypotheses, explain in plain English?
1)For the following PAIRED OBSERVATIONS, calculate the 95% confidence interval for the population mean mu_d: A...
1)For the following PAIRED OBSERVATIONS, calculate the 95% confidence interval for the population mean mu_d: A = {24.83, 24.84, 24.53}, B = {11.94, 13.07, 9.97}. choose the correct answer 7.24 < mu_d < 18.91 9.98 < mu_d < 16.17 13.05 < mu_d < 13.09 9.59 < mu_d < 16.56 6.98 < mu_d < 19.17 11.79 < mu_d < 14.36 6.90 < mu_d < 19.25 10.62 < mu_d < 15.53 7.55 < mu_d < 18.59 12.27 < mu_d < 13.88 2)For...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT