Question
Software needed : Statkeyhttps://www.lock5stat.com/StatKey/ A:Using the percentile method, construct a 95% confidence interval to estimate the population mean of Data Science salaries. Take 5,000 resamples:
Software needed: Statkeyhttps://www.lock5stat.com/StatKey/
A:Using the percentile method, construct a 95% confidence interval to estimate the population mean of Data Science salaries. Take 5,000 resamples:
- Provide your StatKey results.
- Type the confidence interval from your StatKey results above. E.g. "The 95% confidence interval is [XX, XX]". Use 3 decimal places.
B:
Describe the shape of your bootstrap distribution from part A. Is it normally distributed (i.e. bell-shaped) or skewed? Explain.
C:
Using the standard error method, construct a 95% confidence interval for the mean salary for Data Science: sample mean (2 * SE)
For the sample mean, see your StatKey output for the "Original Sample" mean, on the far right.
For the SE, see your StatKey output for the standard error, at the top right corner of the graph.
Show your calculations using the formula above.
NOTE: If the bootstrap distribution is normally distributed, then both the percentile method and standard error method will provide approximately the same 95% confidence interval.
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