Question

Asked Oct 16, 2019

Please also show TI 84 calculator steps and why we use invnorm

Step 1

**Introduction:**

Consider *X* as the random variable of interest.

Here, it is necessary to find two values of *X*, between which, 95% of the observations lie.

This means that outside the interval formed by these two values, the remaining 5% (= 100% – 95%) of the observations will lie.

Now, this 5% is again divided by 2, so that 2.5% of the observations lie above the higher of the two values, and the remaining 2.5% of the observations lie below the lower value.

Denote the lower value as *x*1 and the higher value as *x*2.

These two values should be such that:

*P* (*x*1 < *X* < *x*2) = 0.95

*P* (*X* < *x*2) –* P* (*X*...

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