You Are Given the Following Information Obtained from a Random $\mu$

question 40

Essay

You are given the following information obtained from a random sample of 6 observations. Assume the population has a normal distribution.

a.What is the point estimate of $\mu$ ?
b.Construct an 80% confidence interval for $\mu$ .
c.Construct a 98% confidence interval for $\mu$ .
d.Discuss why the 80% and 98% confidence intervals are different.

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Definitions:

Appeals to Tradition

Arguments that justify a practice or belief based on its historical continuity or long-standing usage.

Egocentric Bias

Egocentric bias is the tendency for people to rely excessively on their own perspective and/or have a higher regard for their own attributes or abilities when analyzing situations or making decisions.

Illusory Correlation

A cognitive bias where a relationship between two variables is perceived despite no such association existing.

False Cause

Refers to a logical fallacy where it is assumed that because one event follows another, the first event caused the second.