Using the data set you collected in Week 1, excluding the super car outlier, you should have calculated the mean and standard deviation during Week 2 forpricedata. Along with finding apandqfrom Week 3. Using this information, calculate two 95% confidence intervals. For the first interval you need to calculate a T-confidence interval for the sample population. You have the mean, standard deviation and the sample size, all you have left to find is the T-critical value and you can calculate the interval. For the second interval calculate a proportion confidence interval using the proportion of the number of cars that fall below the average. You have thep,q, andn, all that is left is calculating a Z-critical value,
Make sure you include these values in your post, so your fellow classmates can use them to calculate their own confidence intervals. Once you calculate the confidence intervals you will need to interpret your interval and explain what this means in words.
Do the confidence intervals surprise you, knowing what you have learned about confidence intervals, proportions and normal distribution? Please the
Week 5 Confidence T-Interval Mean and Unknown SD PDF
and the
Week 5 Confidence Interval Proportions PDF
at the bottom of the discussion. This will give you a step by step example on how to help you calculate this using Excel. These PDFs will also help you in Quizzes section.
Once you have posted your initial discussion, you must reply to at least two other learner's post. Each post must be a different topic. So, you will have your initial post from one topic, your first follow-up post from a different topic, and your second follow-up post from one of the other topics. Of course, you are more than welcome to respond to more than two learners.”
Instructions:Youmust respond to at least 2 other students. Responses may include direct questions.
In your first peer posts, pick another confidence level, i.e. 90%, 99%, 97%, any other confidence level is fine. Have fun and be creative with it and calculate another T-confidence interval and interpret your results. Compare your results to that of the initial 95%, how much do they differ? How useful can this type of information be when you go to buy a new car, or even a house?
In your second peer posts, pick another confidence level, i.e. 90%, 99%, 97%, any other confidence level is fine. Have fun and be creative with it and calculate another proportion interval and interpret your results. Compare your results to that of the initial 95%, how much do they differ? How useful can this type of information be when you go to buy a new car, or even a house?
Make sure you include your data set in your initial post as well. In this discussion you should be calculating 4 total confidence intervals. Two T-confidence intervals and Two proportion confidence intervals. Two in your initial post and then one in each of your response posts.