Topic
Computing the confidence interval
Instructions
Read Ch. 8 of Business Statistics: For Contemporary Decision Making.
Consider the following as you read:
- Think about how you can provide point and confidence interval estimates in personal and professional settings.
- See how the concepts from the previous chapters build up to help understand this topic.
Answer Preview
The confidence interval is computed using the formula;
Sample mean ± Margin of error
Where;
- Margin of error = (t-multiplier × Standard error)
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