MATH_221_SAMPLE_MODULE_6_UPDATED_SU_10

# MATH_221_SAMPLE_MODULE_6_UPDATED_SU_10 - 7 Given a business...

This preview shows pages 1–3. Sign up to view the full content.

MATH 221 Sample Module 6 This Week’s Terminal Course Objective 7 Given a business situation where a confidence interval is necessary, develop a confidence interval and use it to determine a course of action. A. Finding a Confidence Interval for a Population Mean  Exercise 1 According to the diagram below, a confidence interval associated with  c   = 90 % is related to  a critical value named z  c  .  Where z is the standard normal variable. Assuming a two – tailed normal curve, we have 100 % - 90 % = 10 % for the two tails or each Tail is 5 %

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
Using the z - Table To find z  c  , we subtract 50 % ( ½ of the curve ) – 5 % = 0.4500 Next look at the z table to find the z value equivalent to 45% z .00 .01 .02 .03 .04 .05 .06 .07 .08 .09 1.6 .4452 .4463 .4474 .4484 .4495 .4505 .4515 .4525 .4535 .4545 Note that z value 1.64 corresponds to a probability of 44.95 % and
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

### Page1 / 12

MATH_221_SAMPLE_MODULE_6_UPDATED_SU_10 - 7 Given a business...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document
Ask a homework question - tutors are online