University of Southern California Confidence Intervals Paper

Description

Confidence Intervals.

It is often difficult to find the exact mean (average) of a large population of data. We use Confidence Intervals to estimate the value of the mean. Our estimate might be correct or incorrect, but we often don’t know that at the time we’re performing the estimation.

1. Give an example of a large population of data that is suited to a confidence interval estimate- in other words, it would be very hard to find the exact true mean of the data.

Why do you think it is difficult to compute the actual mean of this population?

Why do you think it might be important to know the value of this mean?

Complete the DB assignment below AND make an interpretation of the confidence interval, in the context of the problem by mimicking the statement:

We are X% confident that the actual value of the population mean (name the variable) is some number between lower limit and upper limit

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