Answer:
CI(99%) = ( 0.93 , 2.07)
Therefore at 99% confidence interval (a,b) = ( 0.93 , 2.07)
Critical value z(at 99% confidence) = z(0.005) = 2.58
Step-by-step explanation:
Confidence interval can be defined as a range of values so defined that there is a specified probability that the value of a parameter lies within it.
The confidence interval of a statistical data can be written as.
x+/-zr/√n
Given that;
Mean gain x = 1.5
Standard deviation r = 0.58
Number of samples n = 7
Confidence interval = 99%
Critical value z(at 99% confidence) = z((1-0.99)/2)
z(0.005) = 2.58
Substituting the values we have;
1.5+/-2.58(0.58/√7)
1.5+/-2.58(0.2192)
1.5+/-0.565536
1.5+/-0.57
= ( 0.93 , 2.07)
Therefore at 99% confidence interval (a,b) = ( 0.93 , 2.07)
