Computing Margin of Error: Confidence Interval for a Population Mean Assume that a sample is being used to estimate a population mean µ. If n = 25, ī = 48, and s = 3, find the margin of error at a %3D 98% confidence level. Give your answer to two decimal places.
Computing Margin of Error: Confidence Interval for a Population Mean Assume that a sample is being used to estimate a population mean µ. If n = 25, ī = 48, and s = 3, find the margin of error at a %3D 98% confidence level. Give your answer to two decimal places.
MATLAB: An Introduction with Applications
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Transcribed Image Text:Computing Margin of Error: Confidence Interval for a
Population Mean
Assume that a sample is being used to estimate a
population mean µ.
If n = 25, a = 48, and s = 3, find the margin of error at a
%3D
98% confidence level.
Give your answer to two decimal places.
Expert Solution
Step 1
Confidence interval is used to estimate the population parameter. The confidence interval of population mean gives the range of plausible values of the population mean using the sample statistics.
If the sample size is less than 30 then t distribution is used to estimate the margin of error for confidence interval. If the sample size is large then z-distribution can be used. The margin of error is computed by , where is critical value, s is sample standard deviation and n is sample size.
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