Secure https:/www.mathod.com/Student/ QMB2100.601F17 Bus Economic Statistics I H

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Secure https:/www.mathod.com/Student/ QMB2100.601F17 Bus Economic Statistics I Homework: Section 8.2 Homework core: 0 of 1 pt 1 of 3 (1 complete) HW Score: 096.0- 8.2.1 o View an Example Construct a 95% confidence interval to estmate the populaton mean sing the data below a. 005 0025 Now compute 1- 1 : 1-0025 0975 Next ind z/2 While either technology or a cumulative standardized normal distribution table can be used to ind 2a/2, for the purposes of this explanation, use the table # 196 Press Continue to see more ContinueClose

Explanation / Answer

z0.025 means a confidence level of 1 - 0.025 = 0.975

We need to find z such that the probability is 0.975.

For this a reverse lookup of value needs to be done.

In the z table look into the value 0.9750 first, then check row and column numbers.

Row number : 1.9

Column number : 0.6

=> P(z < 1.96) = 0.9750.

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