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Hi, need to submit a 500 words essay on the topic MathematicsHands on Determination of Confidence Interval of a population Mean.The sample mean, denoted ., is calculated with the formulaStandard d
Hi, need to submit a 500 words essay on the topic MathematicsHands on Determination of Confidence Interval of a population Mean.
The sample mean, denoted ., is calculated with the formula
Standard deviation, , measures the amount of variation or .dispersion .from the average. A low standard deviation indicates that the data points tend to be very close to the .mean .(also called expected value). a high standard deviation indicates that the data points are spread out over a large range of values.
A confidence interval gives an estimated range of values which is likely to include an unknown population parameter, the estimated range being calculated from a given set of sample data. The width of the confidence interval gives us some idea about how uncertain we are about the unknown parameter (see precision). A very wide interval may indicate that more data should be collected before anything very definite can be said about the
