We wish to create a 98% confidence interval for the mean. A sample of 24 gives an average of 72 and a standard deviation of 6.35 . Find the lower value for the confidence interval. Round to 2 decimal places.
Solution :
Given that,
= 72
s = 6.35
n = 24
Degrees of freedom = df = n - 1 = 24 - 1 = 23
At 98% confidence level the t is ,
= 1 - 98% = 1 - 0.98 = 0.02
= 0.02
t ,df = t0.02,23 =2.177
Margin of error = E = t/2,df * (s /n)
= 2.177 * (6.35 / 24) = 2.82
The 98% confidence interval estimate of the population mean is,
- E
72 - 2.82
69.18
lower value confidence interval is = 69.18
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