Calculate for the following given the values below. Express your answer in 2 decimal places (example: 25.00)
Mean Standard deviation Sample Size Confidence Level
75 10 120 90%
What is the lower bound of the confidence interval?
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Calculate for the following given the values below. Express your answer in 2 decimal places (example: 25.00)
Mean Standard deviation Sample Size Confidence Level
75 10 120 90%
What is the lower bound of the confidence interval?
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Answer:
The formula for calculating the confidence interval is:
CI = x̄ ± (Z * σ / sqrt(n))
Where:
x̄ = sample mean
Z = z-score
σ = population standard deviation
n = sample size
For a 90% confidence level, the z-score is 1.645.
Plugging in the values, we get:
CI = 75 ± (1.645 * 10 / sqrt(120))
CI = 75 ± (1.50)
The lower bound of the confidence interval is:
75 - 1.5 = 73.50
Therefore, the lower bound of the confidence interval is 73.50.