Suppose a sample of size 12 is taken, resulting in a sample mean of 300 and...
Suppose a sample of size 12 is taken, resulting in a sample mean of 300 and a sample standard deviation of 30. Determine the Point Estimate and the Standard Error for a 99% Confidence Interval for this sample. Round all calculations to two (2) decimal places.
Homework Answers
Solution :
Given that,
Point estimate = sample mean = 
= 300
sample standard deviation = s = 30
sample size = n = 12
Standard error = (s /
n)
= ( 30 /
12) = 8.66
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