Answered: b. Estimate the Parameters using a 95%…

b. Estimate the Parameters using a 95% confidence level. -What is the Margin of Error? -What is the Lower Limit? -What is the Upper Limit? -What is the Interval Estimate?

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Question

Point estimate (sample mean) - 79.8853

Standard deviation - 22.0983

Sample size - 10

b. Estimate the Parameters using a 95% confidence level.

-What is the Margin of Error?

-What is the Lower Limit?

-What is the Upper Limit?

-What is the Interval Estimate?

Definition Definition Method in statistics by which an observation’s uncertainty can be quantified. The main use of interval estimating is for describing a range that is made by transforming a point estimate by determining the range of values, or interval within which the population parameter is likely to fall. This range helps in measuring its precision.

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