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. 6. Denver Bronco Salaries Confidence level is 90%, σ is not known, and the histogram of 61 player salaries (thousands of dollars) 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. 6. Denver Bronco Salaries Confidence level is 90%, σ is not known, and the histogram of 61 player salaries (thousands of dollars) 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.
6. Denver Bronco Salaries Confidence level is 90%, σ is not known, and the histogram of 61 player salaries (thousands of dollars) 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.
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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