Respuesta :
99% confident that the population mean (μ) falls between 1.5283 and 2.1717.
What do mean and standard deviation tell us?
In statistics, the measurement of variability known as the standard deviation (SD) is frequently utilized. It demonstrates how different things are from the norm (mean). While a high SD shows that the data are dispersed throughout a wide range of values, a low SD suggests that the data points tend to be close to the mean.
What is relationship between mean and standard deviation?
The standard deviation is a measure that summarizes how far away from the mean each observation is. The positive would exactly balance the negative if the discrepancies themselves were totaled together, making their aggregate equal to zero. The squares of the discrepancies are then added as a result.
M = 1.85
Z = 2.58
[tex]s_{M}[/tex] = [tex]\sqrt{\frac{0.395^{2} }{10} }[/tex] = 0.12
μ = M ± Z([tex]s_{M}[/tex])
μ = 1.85 ± 2.58*0.12
μ = 1.85 ± 0.3217
To know more about mean and deviation :
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I understand that the question you are looking for is:
The average earnings per share (EPS) for 10 industrial stocks randomly selected from those listed on the Dow-Jones Industrial Average was found to be i= 1.85 with a standard deviation of s=0.395. Calculate a 99% confidence interval for the average EPS of all the industrials listed on the DJIA.
