A large sample of 149 units has a mean 61 and a standard deviation σ of 10. Find a 99% confidence interval of the mean μ
Confidence Interval Formula for μ is as follows: X - zscoreα/2 * s/√n < μ < X + zscoreα/2 * s/√n where: X = sample mean, s = sample standard deviation, zscore = Normal distribution Z-score from a probability where α = (1 - Confidence Percentage)/2
Find z-score for α value for 0.005 zscore0.005 = 2.576 <--- Value can be found on Excel using =NORMSINV(0.995)
Calculate the Standard Error of the Mean:
SEM =
σ
√n
SEM =
10
√149
SEM =
10
12.206555615734
SEM = 0.8192
Calculate high end confidence interval total: High End = X + zscoreα * s/√n High End = 61 + 2.576 * 10/√149 High End = 61 + 2.576 * 0.81923192051904 High End = 61 + 2.110341427257 2.110341427257 can be derived on Excel below
Excel or Google Sheets formula:
Excel or Google Sheets formula:CONFIDENCE(0.01,10,149)
High End = 63.1103
Calculate low end confidence interval total: Low End = X - zscoreα * s/√n Low End = 61 - 2.576 * 10/√149 Low End = 61 - 2.576 * 0.81923192051904 Low End = 61 - 2.110341427257 Low End = 58.8897
Now we have everything, display our 99% confidence interval:
58.8897 < μ < 63.1103
You have 2 free calculationss remaining
What this means is if we repeated experiments, the proportion of such intervals that contain μ would be 99%
What is the Answer?
58.8897 < μ < 63.1103
How does the Confidence Interval for the Mean Calculator work?
Free Confidence Interval for the Mean Calculator - Calculates a (90% - 99%) estimation of confidence interval for the mean given a small sample size using the student-t method with (n - 1) degrees of freedom or a large sample size using the normal distribution Z-score (z value) method including Standard Error of the Mean. confidence interval of the mean This calculator has 5 inputs.
What 1 formula is used for the Confidence Interval for the Mean Calculator?