A US travel data center survey reported that Americans stayed an average of 7.5 night when they went on vacation. The sample size was 1500. Find the 95% confidence interval of the true mean. Assume the population standard deviation was 0.8.
We are asked to create the 95% confidence interval for the mean number of nights that people stayed for vacation. We are told that the sample size was 1500, and the sample mean is 7.5. We are also told to assume that the population standard deviation is 0.8.
When creating the interval about a mean realize that what we are doing is taking some point estimate and adding/subtracting a term encompassing possible errors. There are two primary components of this error term: one factor involves how confident we want to be, and the other factor is the standard error of the mean.
- The point estimate: a point...
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