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Extreme value on the confidence interval

Compute a 95% confidence interval for the population mean, based on the sample 1, 2, 3, 4, 5, 6, and 39. Change the number from 39 to 16 and recalculate the confidence interval. Using the results, describe the effect of an outlier or extreme value on the confidence interval.

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Solution Preview :

Prepared by a verified Expert

Basic Statistics: Extreme value on the confidence interval

Reference No:- TGS0689740

Have a Question? (oR Write a Review)

Recent Questions Asked Basic Statistics

Q : What effect will this action have on newcomers

Q : Number of degrees of freedom for reading the t-value

Q : Taxable stock sale using residual valuation approach

Q : Uses the straight-line method to amortize

Q : Extreme value on the confidence interval

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Q : Find the required return on market using the sml equation

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Solution Preview :

Prepared by a verified Expert

Basic Statistics: Extreme value on the confidence interval

Reference No:- TGS0689740

Recent Questions Asked Basic Statistics

Q : What effect will this action have on newcomers

Q : Number of degrees of freedom for reading the t-value

Q : Taxable stock sale using residual valuation approach

Q : Uses the straight-line method to amortize

Q : Extreme value on the confidence interval

Q : Use edgar to locate a company in the software industry

Q : Identify leadership behaviors that will result from values

Q : Calculate diameter and length of this wire

Q : Find the required return on market using the sml equation

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