Question
The average value of 14 koi (a type of fish) is $1976. If the p-value of a hypothesis test for Is the average value of
The average value of 14 koi (a type of fish) is $1976. If the p-value of a hypothesis test for "Is the average value of koi less than $2000" is 0.2, build a 95% confidence interval for the average value of all koi. Assumesigma is unknown. Answer should be(1916.41, 2035.59)
Here were some hits to solve for s
Determine your c value. 2. Write out your pvalue equation. 3. Plug in all your data (this should include everything but s!) 4. Look at the t-table. Where does it start? Where does it end? 5. Which of the 3 rules can you apply for probability here to get your pvalue to fall in this range (HINT: what do you do when Pr(Z>c)? 6. Look at the t-table again and see what the corresponding t-value is. Remember to apply your rules properly (i.e. negatives...)! 7. Now, determine s from t!
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