Using Correct Distribution. In Exercises 5–8, assume that we want to construct a confidence interval. Do one of the following, as appropriate: (a) Find the critical value t α/2 , (b) find the critical value z α/2 or (c) state that neither the normal distribution nor the t distribution applies. 5. Miami Heat Salaries Confidence level is 95%, σ is not known, and the normal quantile plot of the 17 salaries (thousands of dollars) of Miami Heat basketball players is as shown.
Using Correct Distribution. In Exercises 5–8, assume that we want to construct a confidence interval. Do one of the following, as appropriate: (a) Find the critical value t α/2 , (b) find the critical value z α/2 or (c) state that neither the normal distribution nor the t distribution applies. 5. Miami Heat Salaries Confidence level is 95%, σ is not known, and the normal quantile plot of the 17 salaries (thousands of dollars) of Miami Heat basketball players is as shown.
Using Correct Distribution.In Exercises 5–8, assume that we want to construct a confidence interval. Do one of the following, as appropriate: (a) Find the critical value tα/2, (b) find the critical value zα/2or (c) state that neither the normal distribution nor the t distribution applies.
5. Miami Heat Salaries Confidence level is 95%, σ is not known, and the normal quantile plot of the 17 salaries (thousands of dollars) of Miami Heat basketball players is as shown.
Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.
Use technology to construct the confidence intervals for the population variance o2 and the population standard deviation o. Assume the sample is taken from a normally distributed population.
c=0.95, s=39, n=20
The confidence interval for the population variance is (___,___)
The confidence interval for the population standard deviation is (___,___)
Results are shown in the table. Assume that the two samples are independent simple random samples selected from normally distributed populations, and do not assume the population standard deviations are equal.
Treatment:
Mu 1:
n=35
x bar = 2.31
s = .56
Mu 2:
n=35
x bar = 2.69
s = .94
what are the null and hypotheses?
what is the test statistic?
what is the P-value?
Construct a confidence interval suitable for testing the claim that the two samples are from populations with the same mean.
Elementary Statistics: Picturing the World (7th Edition)
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Hypothesis Testing and Confidence Intervals (FRM Part 1 – Book 2 – Chapter 5); Author: Analystprep;https://www.youtube.com/watch?v=vth3yZIUlGQ;License: Standard YouTube License, CC-BY