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Determine the 99% confidence interval for the population mean. (Round your answers to 3 decimal places.)

Question

Determine the 99% confidence interval for the population mean.

(Round your answers to 3 decimal places.)

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Solution

To determine the 99% confidence interval for the population mean, you need to follow these steps:

  1. Identify a sample statistic: Since we are trying to estimate a population mean, we choose the sample mean (x̄) as the sample statistic.

  2. Select a confidence level: In this analysis, the confidence level is defined for us in the problem. We are working with a 99% confidence level.

  3. Find the standard deviation or standard error: Since we do not know the standard deviation of the population, we cannot compute the standard deviation of the sample mean. Instead, we compute the standard error (SE). SE = s/√n

  4. Find the margin of error: Elsewhere on this site, we show how to compute the margin of error when the sampling distribution is approximately normal. The key steps are shown below:

    • Find standard deviation or standard error.
    • Multiply it by the appropriate z*-value (for a 99% confidence level, z* = 2.576)
  5. Specify the confidence interval: The range of the confidence interval is defined by the sample statistic plus the margin of error. The uncertainty is denoted by the confidence level.

Please note that without specific values for the sample mean, sample size, and sample standard deviation, I can't provide a numerical answer. The general formula for a confidence interval for a population mean is:

Confidence interval = x̄ ± (z* × SE)

Where:

  • x̄ is the sample mean
  • z* is the z*-value for your chosen confidence level (2.576 for 99% confidence)
  • SE is the standard error of the sample mean.

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