In: Math
Calculate sample mean and sample standard deviation for the given data. We get
Sample standard deviation(s)= 0.08980
1)
First calculate 98% confidence interval as follows.
Where tc is t critical value for c=98%
With df= n-1 =10-1 = 9
We calculate critical value using t table we get
tc= 2.821
Lower bound=0.07968
Upper bound=0.02399
2)
Calculate test statistics
t= 1.4015
Calculate P- value using TI-83 calculator we get p- value as follows.
P-value= 0.1946
C= 98% =0.98 =1-c = 1-0.98 = 0.02
Decision Rule:
If p-value > then fail to reject Ho
Here (p- value = 0.1946) > (= 0.02)
Hence fail to reject Ho.