Answered: The annual earnings of 13 randomly…

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

The annual earnings of 13 randomly selected computer software engineers have a sample standard deviation of $3700. Assume the sample is from a normally distributed population. Construct a confidence interval for the population variance σ2 and the population standard deviation σ.
Use a 95% level of confidence. Interpret the results.

What is the confidence interval for the population variance

σ2?

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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