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Confidence Interval
The interval estimate or a 'confidence interval' consists of a range as an upper confidence limit and lower confidence limit whether we are confident that a population parameter lies and we assign a probability that this interval includes the true population value
The confidence limits are the outer limits to a confidence interval. Confidence interval is the interval among the confidence limits. The higher the confidence level the greater the confidence interval. For illustration:
A normal distribution has the given characteristic as:
i. Sample mean ± 1.960 σ contains 95 percent of the population
ii. Sample mean ± 2.575 σ contains 99 percent of the population
Forecast Errors Differences among actual results and predictions may arise from many reasons. They may arise from random influences, usual sampling errors, option of the wrong
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At a bakery the cost of 30 experts is 45$. Write an equation that shows the cost of 45 cookies
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x>4
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