If You Have a Sample of Size 60 and a Sample

question 14

Short Answer

If you have a sample of size 60 and a sample mean of 8.3 was selected from a population where ? = 1.2 (the standard deviation for the population), determine the interval for the population average (?) at the 95% confidence interval.

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Definitions:

Mode

The value that appears most frequently in a data set, representing the highest peak in a distribution.

Extreme Values

The lowest or highest points in a data set, which are significant for analyzing behavior in statistical models, particularly in risk management and survival analysis.

Median

The middle value in a list of numbers arranged in ascending order, or the average of the two middle numbers if the list has an even number of items.

Central Location

A central or typical value for a probability distribution, often represented by the mean, median, or mode.