How can I use confidence intervals for the population mean µ?

1 Answer

m±ts

Where t is the t-score associated with the confidence interval you require.
[ If your sample size is greater than 30 then the limits are given by
μ = ¯x±(z×SE)]

Explanation:

Calculate the sample mean (m) and sample population (s) using the standard formulas.

m=1N(xn)

s=1N1(xnm)2

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 N>35) then this mean will be distributed as a t-distribution with df=N1.

The confidence interval is then:

m±ts

Where t is the t-score associated with the confidence interval you require.

If you know the population standard deviation and do not need to estimate it (σ), then replace s with σ and use a Z score from the normal distribution rather than a t-score since your estimate will be normally distributed rather than t distributed (using the above assumptions about the data).

[¯x = sample Mean
z = critical value
SE is standard Error
SE = σn Where n is sample size.

Upper limit of the population --μ = ¯x+(z×SE)
Lower limit of the population - μ = ¯x(z×SE)

If your sample size is less than 30 use the 't' value]