Answered: The waiting times (in minutes) of a…

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 waiting times (in minutes) of a random sample of

people at a bank have a sample standard deviation of

3.5

minutes. Construct a confidence interval for the population variance

σ2

and the population standard deviation

σ.

Use a

95%

level of confidence. Assume the sample is from a normally distributed population.

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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