1. Compute the 95% confidence intervalon the population meanif a sample of 1000 is taken and the sample mean is found to be 15.95 and standard deviationis 4.2.
Interpret the interval. What does it mean?
2. Test to see if a population mean is greater than the assumed (or historical) value of 16. When a sample of 1000 was taken the sample mean was computed to be 15.95 and the sample standard deviation was 4.2.
Z Value for 95% CI = 1.96
Upper CI = Mean + z * std dev / sqrt(n)
Lower CI = Mean – z * std dev / sqrt(n)
Upper CI = 15.95 + 1.96* 4.2 / SQRT(1000) = …
Provides steps necessary to compute the confidence interval and test population mean.