Homework Help: business statistics

Posted by Josephine on Wednesday, July 29, 2009 at 4:40pm.

the following data values are a simple random sample form a population that is normally distributed, with ²= 25.0: 47,33,42,34, and 41. Construct and interpret the 95% and 99% confidence intervals for the population mean.

business statistics - MathGuru, Thursday, July 30, 2009 at 9:13am
Formula:

CI95 = mean + or - 1.96(sd divided by √n)
...where + or - 1.96 represents the 95% confidence interval using a z-table, sd = standard deviation, √ = square root, and n = sample size.

For 99%, substitute + or - 1.96 in the above formula to reflect the 99% confidence interval.

You already have standard deviation. Find the mean of the data listed. Substitute values into the formula and go from there.

I hope this will help get you started.

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