Explain how the confidence interval of the mean is affected by (all other factors constant). a) Number of samples N b) Confidence level c) Standard deviation
Explain how the confidence interval of the mean is affected by (all other factors constant). a) Number of samples N b) Confidence level c) Standard deviation
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
Explain how the confidence interval of the
a) Number of samples N
b) Confidence level
c) Standard deviation
Expert Solution
Step 1
The confidence interval is the interval in which the population parameter is likely to fall. Let be the random sample of size N from the normal population with mean and variance . The sample mean is normally distributed with mean and variance . For large samples, the confidence interval at the level of significance for population mean is given as follows:
When population variance is unknown, we will use its estimate, i.e., sample variance, .
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