1. Statistics for Management Lesson 4 Confidence Interval Estimation
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3. Mean, , is unknown Population Random Sample I am 95% confident that is between 40 & 60. Mean X = 50 Estimation Process Sample
4. Estimate Population Parameter... with Sample Statistic Mean Proportion p p s Variance s 2 Population Parameters Estimated 2 Difference - 1 2 x - x 1 2 X _ _ _
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6. Confidence Interval Sample Statistic Confidence Limit (Lower) Confidence Limit (Upper) A Probability That the Population Parameter Falls Somewhere Within the Interval. Elements of Confidence Interval Estimation
8. 90% Samples 95% Samples Confidence Intervals 99% Samples X _ x _
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10. Confidence Intervals Intervals Extend from (1 - ) % of Intervals Contain . % Do Not. 1 - /2 /2 X _ x _ Intervals & Level of Confidence Sampling Distribution of the Mean to
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12. Mean Unknown Confidence Intervals Proportion Finite Population Known Confidence Interval Estimates
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14. Mean Unknown Confidence Intervals Proportion Finite Population Known Confidence Interval Estimates
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16. Z t 0 t ( df = 5) Standard Normal t ( df = 13) Bell-Shaped Symmetric ‘ Fatter’ Tails Student’s t Distribution
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18. Upper Tail Area df .25 .10 .05 1 1.000 3.078 6.314 2 0.817 1.886 2.920 3 0.765 1.638 2.353 t 0 Assume: n = 3 df = n - 1 = 2 = .10 /2 =.05 2.920 t Values / 2 .05 Student’s t Table
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20. Mean Unknown Confidence Intervals Proportion Finite Population Known Confidence Interval Estimates
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22. Mean Unknown Confidence Intervals Proportion Finite Population Known Confidence Interval Estimates
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