Confidence Level for Sample Means
q The probability that a sample mean, x, lies between m-sx and m+ sx
may be written:
q However, it is more important to find out the confidence interval for
the population mean m. The previous relation can be written as:
q But we don’t know the true value of s (the standard deviation of the
population). If the sample size is large enough (N³30), we can use s
(the standard deviation estimated by samples) to approximate s: