How do you calculate the confidence interval for a population mean with a known standard deviation using formula? Please provide an example calculation.
Answer 1
Henry Curry
To calculate the confidence interval for a population mean with a known standard deviation, use the formula: CI = x̄ ± Z*(σ/√n), where x̄ is the sample mean, Z is the Z-score corresponding to the desired confidence level, σ is the population standard deviation, and n is the sample size. For example, if x̄ = 100, σ = 15, n = 25, and the desired confidence level is 95%, the Z-score is 1.96. The confidence interval is calculated as 100 ± 1.96*(15/√25), resulting in a range of 94.12 to 105.88.
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