Again sorry for all the questions. please help, I am not good at stats and find these questions very difficult. I would appreciate an explanation if possible.
1.What is the sample average?
2.What is the SD of the box?
3.What is the number of draws from the box (the sample size)?
4.What is the standard error for the average? Round your answer to two decimal places.
5.What is the z-value for a 85% confidence interval? Round your answer to two decimal places.
6.What is the lower boundary of the 85% confidence interval? Round your answer to two decimal places.
7.What is the upper boundary of the 85% confidence interval? Round your answer to two decimal places.
Lacking needed data.
No need to apologize for asking questions! I'm here to help. Let's go through each question step by step:
1. The sample average, also known as the mean, is the sum of all the values in a sample divided by the number of values in the sample. To calculate the sample average, add up all the values and divide by the sample size.
2. The SD (standard deviation) of the box refers to the measure of variability or spread in the values of the box. To calculate the SD, subtract the average value (mean) of the box from each value, square the differences, calculate the average of those squared differences, and take the square root of that average.
3. The number of draws from the box is the sample size. It represents the number of values that were randomly selected from the box to form the sample.
4. The standard error for the average is a measure of the uncertainty in the sample average. It is calculated by dividing the sample standard deviation (SD) by the square root of the sample size. Make sure to round your answer to two decimal places.
5. The z-value for a confidence interval represents the number of standard errors away from the mean. For a given confidence level, the z-value can be looked up in a standard normal distribution table or calculated using statistical software. For an 85% confidence interval, the z-value would be around 1.44. Remember to round your answer to two decimal places.
6. The lower boundary of the confidence interval is determined by subtracting the product of the z-value and the standard error from the sample average.
7. The upper boundary of the confidence interval is determined by adding the product of the z-value and the standard error to the sample average.
Remember to round your answers to two decimal places as instructed.
I hope this helps clarify the concepts and calculations involved. If you have any further questions or need more assistance, feel free to ask!