Given a sample of 100 projector bulbs from a company has a mean
length of life of 20.5 hours with a standard deviation of 1.6 hours, how do I find a 95% confidence interval for the average length of life of those bulbs and then interpret the results?
The formula to calculate a confidence interval for a population mean is as follows:
"CI=\\bar{x}\\pm z\\cdot\\cfrac{\\sigma}{\\sqrt{n}},"
where:
So,
"CI=20.5 \\pm 1.96\\cdot\\cfrac{1.6}{\\sqrt{100}}=20.5\\pm0.314=(20.186, 20.814)."
There is a 95% chance that the confidence interval of (20.186, 20.814) contains the true population mean length of life of bulbs.
Another way of saying the same thing is that there is only a 5% chance that the true population mean lies outside of the 95% confidence interval. That is, there’s only a 5% chance that the true population mean length of life of bulbs is greater than 20.814 hours or less than 20.186 hours.
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