Probability Interval, statistics help

In summary, we are assuming a normal population with a mean of 90 and standard deviation of 25. With a sample size of 100, the best estimate for the sample mean is 90 and the standard error is 5/2. In the 95% probability interval, the margin of error is 4.9 and the center probability interval for the sample mean is (85.1, 94.9).
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Probability Interval, statistics help!

Homework Statement


Assume that the population is normal with mean of 90 and standard deviation of 25. A sample of size 100 will be selected.
a.) What is your best estimate for the value of the sample mean?
b.) What is the value of the standard error?
c.) In the 95% probability interval for the sample mean, what is the value of the margin of error?
d.) Construct the 95% center probability interval for the sample mean. (Give lower limit (LL) and upper limit (UL).

Homework Equations


(work shown below)

The Attempt at a Solution


4a.) 90
4b.) 25 / (100)^1/2 = 25/10 = 5/2
4c.) 1.96 * (5/2) = 4.9
4d.) LL= 90 – 4.9 = 85.1
UL= 90 + 4.9 = 94.9
(84.1, 94.9)

Homework Statement


Homework Equations


The Attempt at a Solution

 
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a.) What is your best estimate for the value of the sample mean?Answer: 90b.) What is the value of the standard error?Answer: 25/√100 = 25/10 = 5/2 c.) In the 95% probability interval for the sample mean, what is the value of the margin of error?Answer: 1.96 * (5/2) = 4.9d.) Construct the 95% center probability interval for the sample mean. (Give lower limit (LL) and upper limit (UL).Answer: LL = 90 – 4.9 = 85.1UL = 90 + 4.9 = 94.9Interval: (85.1, 94.9)
 

FAQ: Probability Interval, statistics help

H2 What is a probability interval?

A probability interval is a range of values that represents the likelihood of a certain event occurring. It is typically expressed as a percentage, with 0% representing no chance of the event occurring and 100% representing a certainty of the event occurring.

H2 How is a probability interval calculated?

A probability interval is calculated by dividing the number of times a certain event occurs by the total number of possible outcomes. This can be represented as a fraction, decimal, or percentage.

H2 What is the difference between a probability interval and a confidence interval?

While both probability and confidence intervals represent a range of values, they have different interpretations. A probability interval represents the likelihood of a certain event occurring, while a confidence interval represents the level of uncertainty in estimating a population parameter.

H2 How is a probability interval used in statistics?

Probability intervals are commonly used in statistics to estimate the likelihood of certain events or outcomes, such as in hypothesis testing or in calculating confidence intervals. They can also be used to determine the probability of a range of values for a certain variable.

H2 Can a probability interval be negative or greater than 1?

No, a probability interval cannot be negative or greater than 1. Probability is always represented as a value between 0 and 1, as it is a measure of likelihood. If a probability interval is calculated to be negative or greater than 1, it is likely an error in calculation.

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