The average monthly electricity consumption for a sample of 100 families is 1250 units. Assuming the standard deviation of electric consumption of all families is 150 units, construct a 95 per cent confidence interval estimate of the actual mean electric consumption.

The average monthly electricity consumption for a sample of 100 families is 1250 units. Assuming the standard deviation of electric consumption of all families is 150 units, construct a 95 per cent confidence interval estimate of the actual mean electric consumption.

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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Question

The average monthly electricity consumption for a sample of 100 families is 1250 units. Assuming the
standard deviation of electric consumption of all families is 150 units, construct a 95 per cent
confidence interval estimate of the actual mean electric consumption.

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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