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TO ESTIMATE THE AVERAGE AGE OF STUDENTS A SAMPLE OF 50 PARTICIPANTS WAS OBTAINED, WITH A MEAN OF 16 AND A POPULATIONAL VARIATION OF 9, calculate:* POINT ESTIMATE OF THE MEANS* 95% AND 99% CONFIDENCE INTERVAL ESTIMATES FOR THE MEANS?
Point Estimate of the Mean: The point estimate of the mean is 16, since this is the sample mean. 95% Confidence Interval Estimate for the Mean: The 95% confidence interval estimate for the mean can be calculated using the following formula: Mean +/- Margin of Error = (16 +/- 1.96*(9/sqrt(50))) = 16 +/- 1.51 = 14.49 to 17.51 99% Confidence Interval Estimate for the Mean: The 99% confidence interval estimate for the mean can be calculated using the following formula: Mean +/- Margin of Error = (16 +/- 2.58*(9/sqrt(50))) = 16 +/- 2.13 = 13.87 to 18.13
What is meant by a 95 percent confidence interval?
Confidence IntervalsConfidence interval (CI) is a parameter with a degree of confidence. Thus, 95 % CI means parameter with 95 % of confidence level. The most commonly used is 95 % confidence interval.Confidence intervals for means and proportions are calculated as follows:point estimate ± margin of error.
What is 95 percent of 200000?
95% of 200,000= 95% * 200000= 0.95 * 200000= 190,000
What is 95 percent of 250?
95 percent of 250 is 0.95 * 250 equals 237.5
How do you measure Confidence Level?
That is with a confidence interval of approximately 95% the "true mean" is within the interval of [336.10, 353.90] and that the sample mean (which is an estimate of the "true mean") is $350.00. SMALL-SAMPLE CONFIDENCE INTERVAL FOR A POPLATION MEAN, t-DISTRIBUTION 95% Confidence Interval = x-bar +/- (t-critical value) * s/SQRT(n) x-bar = SAMPLE MEAN [350] s = STANDARD DEVIATION [100] n = NUMBER OF SAMPLES [200] n - 1 = 199 df (DEGREES OF FREEDOM) t-critical value = (approx) 1.972 from "look-up Table for "two-sided interval" df = 200 [CLOSED df IN TABLE] 95% Confidence Interval: 350+/- 1.972 *100 / SQRT(200) = [336.10, 353.90] That is with a confidence interval of approximately 95% the "true mean" is within the interval of [336.10, 353.90] and that the sample mean (which is an estimate of the "true mean") is $350.00. c. ANSWER: A random selection of 1537 customers will provide 95% confidence for estimating the mean extended warranty price paid. Why??? CHOOSING THE SAMPLE SIZE n = [(z-critical value * s)/B]^2 z-critical value = 1.96 (associated with 95% confidence level) s = STANDARD DEVIATION [100.00] B = BOUND ON THE ERROR OF ESTIMATION [5.00] n = [(1.96 * 100.00)/5.00]^2 = 1537 (ROUNDED - UP) CONCLUSION: A random selection of 1537 customers will provide 95% confidence for estimating the mean extended warranty price paid.
What percent of the world is homophobic?
in my best estimate, about 95%.
What is the labor estimate on a water pump for a 95 Buick Lasaber?
It cost me $175
What does it mean to have 95 percent confidence in an interval estimate?
It means that 95% of the values in the data set falls within 2 standard deviations of the mean value.
TO ESTIMATE THE AVERAGE AGE OF STUDENTS A SAMPLE OF 50 PARTICIPANTS WAS OBTAINED, WITH A MEAN OF 16 AND A POPULATIONAL VARIATION OF 9, calculate:* POINT ESTIMATE OF THE MEANS* 95% AND 99% CONFIDENCE INTERVAL ESTIMATES FOR THE MEANS?
Point Estimate of the Mean: The point estimate of the mean is 16, since this is the sample mean. 95% Confidence Interval Estimate for the Mean: The 95% confidence interval estimate for the mean can be calculated using the following formula: Mean +/- Margin of Error = (16 +/- 1.96*(9/sqrt(50))) = 16 +/- 1.51 = 14.49 to 17.51 99% Confidence Interval Estimate for the Mean: The 99% confidence interval estimate for the mean can be calculated using the following formula: Mean +/- Margin of Error = (16 +/- 2.58*(9/sqrt(50))) = 16 +/- 2.13 = 13.87 to 18.13
What is meant by a 95 percent confidence interval?
Confidence IntervalsConfidence interval (CI) is a parameter with a degree of confidence. Thus, 95 % CI means parameter with 95 % of confidence level. The most commonly used is 95 % confidence interval.Confidence intervals for means and proportions are calculated as follows:point estimate ± margin of error.
How much percent do invertebrates make up of all animals?
Approximately 95% of known species of animals are invertebrates.
How do you estimate the sum or difference of 59 42 95?
60 + 40 + 100 = 200 60 - 40 - 100 = -80
What is the estimate to 362 times 95?
It depends on what you are looking for... 400*100=40,000 350*100=35,000 360*100=36,000
What is Rachel Maddow's IQ?
Rumored to be 135. Higher than cambridge's estimate of George W Bush's IQ based on his speaking abilites of 95.
What is 95 multiplied by 4?
95+95+95+95
How many cars on the road in Tokyo?
57 MillionThe latest estimate is about 57 million.
What is 100 percent of 95?
95% of 100 is 95
