ESTIMATION OF PARAMETER

ESTIMATION is the process of determining unknown parameter values like the population mean.

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INTERVAL ESTIMATE is a single statistic value that is an estimate of a parameter.

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CONFIDENCE COEFFICIENT is the probability that the interval estimate contains the unknown population mean.

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        Used z = 1.96 for 95% confidence level.

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If n = 24, confidence level = 90% , then t = 1.714.

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Given: x̅ = 70, σ= 5, 95% confidence level, n= 50

Interval : 68.61 to 71.39

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