Confidence intervals to estimate population mean - Confidence Intervals

Confidence intervals to estimate population mean

Lessons

Notes:
In previous sections we used a point estimate to estimate the range of where our population proportion might lie (with a specific level of confidence). In this section we will be doing the same thing, except with means. We will find our sample mean (similar in idea to our point estimate) and then use that sample mean to figure out the range of where our population mean might lie (with a specific level of confidence).

However in this section there are two different scenarios we have to consider. Either σ\sigma is known, or σ\sigma is unknown.

σ\sigma is unknown: We will use t-scores, which will be explored in the next section
σ\sigma is known: E=Zα2σnE=Z_{\frac{\alpha}{2}}*\frac{\sigma}{\sqrt{n}}

μ\mu: the population mean (what we are interested in finding)
x\overline{x}: The sample estimate for μ\mu
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Confidence intervals to estimate population mean

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