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Chapter 8 Interval Estimation

# Chapter 8 Interval Estimation - Chapter 8 – Interval...

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Unformatted text preview: Chapter 8 – Interval Estimation Population Mean: σ Known- To develop an interval estimate of a population mean, either the population standard deviation σ or the sample standard deviation s must be used to compute the margin of error Margin of Error and the Interval Estimate- The confidence level of an interval containing population mean μ expresses the percentage of times that all intervals formed by subtracting and adding a margin of error from the sample mean xbar will contain the population mean μ. The value in decimal form is the confidence coefficient , and the interval created by adding and subtracting from xbar is the confidence interval Population Mean: σ Unknown- If an estimate of the population standard deviation σ cannot be developed prior to sampling, we must use the sample standard deviation s to estimate σ- When s is used to estimate σ, the margin of error and the interval estimate for the population mean are based on a probability distribution known as the t distribution...
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Chapter 8 Interval Estimation - Chapter 8 – Interval...

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