To give a 98% confidence interval for a population mean μ, you would use the critical value? Please explain how to find this z-score and how to find the margin of error as well. Im really struggling with confidence intervals.
The critical value is Z 0 . 0 1 =2.3263 margin of error= Z ∗ s t a... View the full answer
- Kindly note that Z is the critical value
- May 14, 2018 at 9:22pm
- how did you get 2.3263? did you use software. I don't understand that part
- May 14, 2018 at 9:47pm
- The value 2.3263 can be obtained from the z-table by reading the value of Z corresponding to a 1% level of significance. Alternatively the excel function NORMSINV(0.01) can be used
- May 14, 2018 at 9:56pm