Question

BJsales is a time series giving 150 separate sales amounts. We may convert the time series...

BJsales is a time series giving 150 separate sales amounts. We may convert the time series to a vector,x, with the assignment x <- as.vector(BJsales). Let the random variable X represent a random observation from the values in BJsales. Assume X has mean mu and standard deviation sigma and that there is no trend in the data and values are independent from one another. Think of x as a random sample from X. Answer the following using R code:

i) Find the lower boundary for a 92% confidence interval for μ.

j) Find the upper boundary for a 92% confidence interval for μ. k) How long is the 92% confidence interval for μ?

k) How long is the 92% confidence interval for μ?

Math   Statistics-And-Probability   
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Answer #1

We are given this "BJsales" time series data set in R. We convert this data set into a vector. Now, we are to construct a 92% confidence interval for . For this, we need to calculate the sample mean and the sample standard deviation. The sample size is already given as: = 150. Now, the sample mean = = 229.978 and the sample standard deviation = = 21.4797.


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