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STAT 1123 (1)
M.Bednarz (1)
Lecture

Intervals for the Mean mar26.docx

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Department
Statistics
Course
STAT 1123
Professor
M.Bednarz
Semester
Winter

Description
Mar 26 2013 Opmt1130 Intervals for the Mean  Not knowing the population in business applications means you don’t know he population standard deviation (PSD) either What to do if Sigma is unknown Good News:  use sample standard deviation in place of the PSD  sample mean follows T-distribution Bad News:  sample means are no longer distributed normally o due to the lack of accurate data  using estimation T-Distribution  symmetrical about the mean  flatter in the middle  longer tails than normal distributions  more area in tails  less are in the centre  family of curves o each curve is different  depends on the degrees of freedom (DF) DF= n-1 where n = sample size  As n increases, a better estimate of sig
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