Homework SourseSuppose two data sets x and y have identical mean and varian
Suppose two data sets x and y have identical mean and variances, but d is made up of 17 observations, and y contains 29. Which will have a larger confidence interval? Explain your answer.
Suppose two data sets x and y have identical mean and variances, but d is made up of 17 observations, and y contains 29. Which will have a larger confidence interval? Explain your answer.
Solution
Confidence Interval
CI = x ± Z a/2 * (sd/ Sqrt(n))
Where,
x = Mean
sd = Standard Deviation
a = 1 - (Confidence Level/100)
Za/2 = Z-table value
CI = Confidence Interval
Here size of n divides the stanadard deviation, higher the value of
sample size lessar the standard error [ sd/ Sqrt(n) ], thus confidence
interval is smaller. Sample size 17 will have the larger confidence interval
