Question

A statistician calculates a 95% confidence interval for Mean when Standard Deviation is known. The confidence interval is Rs.18000 to Rs.22000, the amount of the sample mean is:

Answer 1

A statistician calculates a 95% confidence interval for Mean when Standard Deviation is known. The confidence interval is Rs.18000 to Rs.22000, the amount of the sample mean is:

Answer: We are given the 95% confidence interval for the population mean with Upper limit = 22000 and lower limit = 18000

We can find the sample mean using these limits of confidence interval as:

Sample mean
`=(Upper-limit + Lower-limit)/(2) =(22000+18000)/(2) =(40000)/(2) = 20000`

Therefore, the sample mean = 20,000