For data of discussion 1 refer to this picture What is the best point estimate for your survey question that you used in Discussion 1? Be sure to include both the correct notation (symbol) and the value.Construct a confidence interval for the responses to your survey. Assume that you do not know the population standard deviation.Indicate your level of confidence and the corresponding critical value.What is the margin of error?If we would increase the sample size to 500 students, what would happen to your margin of error? 1. Approximately, how much money do you spend on gas per month and perhow many miles?2.0100150240010018040100200250 2756510020028075120200300851402003001001442005001001502003. Mean = 164.32; Median = 150; Mode = 100 and 2004. SD = 92.65; Variance = 8,583.26; Range = 4605. Z-score = 3.62 - This value is outliner and a significantly high value.

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6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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For data of discussion 1 refer to this picture

What is the best point estimate for your survey question that you used in Discussion 1? Be sure to include both the correct notation (symbol) and the value.
Construct a confidence interval for the responses to your survey. Assume that you do not know the population standard deviation.
Indicate your level of confidence and the corresponding critical value.
What is the margin of error?
If we would increase the sample size to 500 students, what would happen to your margin of error?