constructing confidence intervals statistics homework help

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This week you will begin working on Phase 2 of your course project. Using the same data set and variables for your selected topic, add the following information to your analysis: Discuss the importance of constructing confidence intervals for the population mean. What are confidence intervals? What is a point estimate? What is the best point estimate for the population mean? Explain. Why do we need confidence intervals? Based on your selected topic, evaluate the following: Find the best point estimate of the population mean. Construct a 95% confidence interval for the population mean. Assume that your data is normally distributed and σ 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. Write a statement that correctly interprets the confidence interval in context of your selected topic. Based on your selected topic, evaluate the following: Find the best point estimate of the population mean. Construct a 99% confidence interval for the population mean. Assume that your data is normally distributed and σ 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. Write 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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