Question: Y1, ...... , Yn are iid random variables. The variance of Yi is between 9 and 11, but we don't know the mean of Yi.
Y1, ...... , Yn are iid random variables. The variance of Yi is between 9 and 11, but we don't know the mean of Yi. We want to estimate the mean of Yi by calculating (Y1+......+Yn)/n. The estimated mean of Yi needs to be within 0.1 of the actual value with probability of at least 0.99.
What is the value of n?
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
