8.1 Estimation Using Normal

# Population mean known interval estimation in how many

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Unformatted text preview: calculate another sample mean: e.g., 369.5 3 95± .8 6. 5 8 3 36 ≤µ 3 53 6. 2 ≤ 7. 8 ◦ New interval estimate: ◦ If μ=368, this interval estimate is also true. Interval Estimation can choose a third sample and calculate a third sample mean: e.g., 360.0 3 00± .8 6. 5 8 3 41 ≤µ 3 58 5. 2 ≤ 6. 8 ◦ New interval estimate: ◦ If μ=368, this interval estimate is not true. Population Mean: σ Known Interval Estimation Recap: suppose that population mean is unknown can choose a sample, calculate a sample mean, and find an interval estimate for the population mean in some cases, the interval estimate is true, but not in all cases In how many cases will the interval estimate be true? Population Mean: σ Known Interval Estimation In how many cases will the interval estimate be true? recall: interval estimate based on finding an interval symmetrically distributed around the population mean that includes 95% of the sample means. therefore, 95% of the time, the interval estimate based on the sample mean will include the population mean Population Mean: σ Known Interval Estimation In how many cases will the interval estimate be true? recall: interval estimate based on finding an interval symmetrically distributed around the population mean that includes 95% of the sample means. therefore, 95% of the time, the interval estimate based on the sample mean will include the population mean 95% confidence that the population mean is in the interval Population Mean: σ Known Interval Estimate of a Population Mean: σ Known x ± zα 2 margin s za 2 ◦ Interval Estimation ◦ of error or CONFIDENCE.NORM(alpha,standard_dev,size) size of margin based on level of significance α level ◦ n σ n of significance represented by α (alpha) α = Level of Significance = 1 – Confidence confidence ◦ ◦ 1 – Level of Signficance most common are 95%, 90%, and 99% Confidence Levels Values of zα/2 for most commonly used confidence lConfidenc evels: Confidence zα/2 e Level α α/2...
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