How can I use confidence intervals for the population mean µ?
1 Answer
Where
[ If your sample size is greater than 30 then the limits are given by
Explanation:
Calculate the sample mean (
If you assume a normally distributed population of i.i.d. (independent identically distributed variables with finite variance) with sufficient number for the central limit theorem to apply (say
The confidence interval is then:
Where
If you know the population standard deviation and do not need to estimate it (
[
z = critical value
SE is standard Error
SE =
Upper limit of the population --
Lower limit of the population -
If your sample size is less than 30 use the 't' value]