 # statistics phase2

| May 26, 2015

This week you will begin working on Phase 2 of your course project. Using the same data set and variables for your selected topic, add the following information to your analysis:

1. Discuss the importance of constructing confidence intervals for the population mean.
• What are confidence intervals?
• What is a point estimate?
• What is the best point estimate for the population mean? Explain.
• Why do we need confidence intervals?
1. Based on your selected topic, evaluate the following:
• Find the best point estimate of the population mean.
• Construct aÂ 95%Â confidence interval for the population mean. Assume that your data is normally distributed and ÃƒÃ†â€™ is unknown.
• Please show your work for the construction of this confidence interval and be sure to use the Equation Editor to format your equations.
• Write a statement that correctly interprets the confidence interval in context of your selected topic.
1. Based on your selected topic, evaluate the following:
• Find the best point estimate of the population mean.
• Construct aÂ 99%Â confidence interval for the population mean. Assume that your data is normally distributed and ÃƒÃ†â€™ is unknown.
• Please show your work for the construction of this confidence interval and be sure to use the Equation Editor to format your equations.
• Write a statement that correctly interprets the confidence interval in context of your selected topic.
1. Compare and contrast your findings for the 95% and 99% confidence interval.
• Did you notice any changes in your interval estimate? Explain.
• What conclusion(s) can be drawn about your interval estimates when the confidence level is increased? Explain. Get a 5 % discount on an order above \$ 150
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2018DISC

Category: Mathematics

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