00:01
We have a random variable that has a normal distribution with an unknown mean and a standard deviation of 12.
00:14
We're going to take a random sample size, random sample of size 36, and we're going to find a sample mean of 98.
00:29
We're going to compute a 95 % confidence interval for the population mean.
00:38
The confidence interval formula is going to be the following.
00:42
The sample mean plus, and because this is normal distribution, i'm going to use a z, times the standard deviation over square root of n.
01:01
That's going to be 98 plus, and okay, so it looks like this is broken into parts.
01:15
The critical value z star, this comes from the 95 % confidence part.
01:23
We have an alpha of 0 .05.
01:26
These are commonly known values.
01:30
You don't come up with them on your own.
01:33
They're going to be on a z chart, on a table, or in your calculator, but they're just commonly known values, so you just need to look it up.
01:41
The critical value for a 95 % confidence interval is 1 .96.
01:47
I'm going to be plugging that in here.
01:49
Standard deviation is 12 over square root 36.
01:57
Let's see, the margin of error part, that is just this part of the confidence interval.
02:15
It's like, how much is it going to deviate from the standard, sorry, from the sample mean? let's calculate that...