Question

A 95% confidence interval is calculated for the average revenue earned for a specific procedure using a sample. Choose the most appropriate answer response for calculating the lower confidence limit.

A. Subtract the margin of error from the population mean

B. Add the margin of error to the sample mean

C. Add the standard error of the mean to the sample mean

D. Subtract the standard error of the mean from the sample mean

E. Subtract the margin of error from the sample mean

Answer 1

Answer:-

Generally we find the confidence interval for population mean for this we consider margin of error and sample mean

95% confidence interval for the average revenue earned for a specific procedure using a sample is

( Sample mean - margin of error , sample mean + margin of error ) = confidence level

Therefore the correct answer is to calculating the lower confidence limit is

E. Subtract the margin of error from the sample mean

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