INTERVAL ESTIMATE
Let ?=? be the true mean. The desired confidence interval for the true mean is thus given by:
where is the standard error
of the point estimator (measures
of point estimator accuracy).
?confidence interval for ? is:
E.g.: Suppose the batch means of 10 observations are given as follows:
3.7 5.3 4.7 3.3 5.3
5.1 5.1 4.9 4.2 5.7
Then , , n=10.
Thus, the 90% confidence interval
is .