Nicholas H. answered 01/21/25
Psychology and Statistics Tutor | Undergraduate & Graduate Support
This one is tricky!
1.) Find the mean by adding all the data points and divide by N (12) to get 4,319.25
2.) Subtract the mean from all data points and square them - It is important to note that even if you get a negative after subtracting and squaring, to ignore it and simply make it positive.
4,044-4,319.25^2 = 75,762.56
3,981-4,319.25^2 = 183,398.06
3,558-4,319.25^2 = 574,501.56
4,030-4,319.25^2 = 83,665.56
4,328-4,319.25^2 = 76.56
4,803-4,319.25^2 = 234,014.06
4,653-4,319.25^2 = 111,389.06
4,036-4,319.25^2 = 80,230.56
4,998-4,319.25^2 = 460,701.56
4,832-4,319.25^2 = 262,912.56
4,341-4,319.25^2 = 12,488.06
4,317-4,319.25^2 = 5.06
For a total of 2,079,145.22
3.) Now we need to find the estimated SD
The formula for that is sqrt of (sum of squares/n-1)
sqrt of (2,079,145.22/11) = 434.756485654
Estimated SD = 434.756485654
4.) Now to find the confidence interval. Because the SD is unknown, and we have to use the estimated SD, we need to use a t-statistic rather than a z-statistic.
A 99% confidence interval tcrit is 3.106.
The formula is xbar+-t*estimatedSD/Sqrt of N
XBar is the mean: 4,319.25
TCrit:3.106
Estimated SD: 434.756485654
N = 12
- The square root of 12 is 3.46410161514
- 434.756485654/3.46410161514 = 125.503387012
3.106 * 125.503387012 = 389.813520059
4,319.25 - 389.813520059 = 3929.43647994
4,319.25 + 389.813520059 = 4709.06352006
So approximately give or take a few decimals and rounding, the confidence interval is
3,929.43 < u < 4,709.06