Question: 1.Based on your selected topic, evaluate the following: oFind the best point estimate of the population mean. oConstruct a 95% confidence interval for the population

1.Based on your selected topic, evaluate the following:

oFind the best point estimate of the population mean.

oConstruct a95%confidence interval for the population mean. Assume that your data is normally distributed and is unknown.

  • Please show your work for the construction of this confidence interval and be sure to use the Equation Editor to format your equations.
  • Make a statement that correctly interprets the confidence interval in context of your selected topic.

2.Based on your selected topic, evaluate the following:

  • Find the best point estimate of the population mean.
  • Construct a99%confidence interval for the population mean. Assume that your data is normally distributed and is unknown.
  • Please show your work for the construction of this confidence interval and be sure to use the Equation Editor to format your equations.
  • Make a statement that correctly interprets the confidence interval in context of your selected topic.

Compare and contrast your findings for the 95% and 99% confidence interval.

  • Did you notice any changes in your interval estimate? Explain.
  • What conclusion(s) can be drawn about your interval estimates when the confidence level is increased? Explain.

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