# Phase 2 Statistics

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:

1. 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?
2. Find the best point estimate of the population mean.
3. Construct two confidence intervals for the population mean: a 95% confidence interval and a 99% confidence interval. Assume that your data is normally distributed and the population standard deviation is unknown.
• Please show your work for the construction of these confidence intervals and be sure to format your equations to fit the appropriate form (may need editing here).
4. Write a paragraph that correctly interprets the confidence intervals in context of your selected topic.
5. Compare and contrast your findings for the 95% and 99% confidence intervals.
• 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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Correctness
Points:

0 (0.00%)
Less than half of parts of all problems are solved correctly.
Points:

18.125 (12.50%)
At least half of the parts of all problems are solved correctly.
Points:

27.1875 (18.75%)
The majority of parts of all problems are solved correctly.
Points:

30.8125 (21.25%)
Almost all parts of all problems are solved correctly.
Points:

36.25 (25.00%)
All parts of all problems are solved correctly.
Work Shown
Points:

0 (0.00%)
Less than half all work is shown.
Points:

18.125 (12.50%)
At least half of all work is clearly shown.
Points:

27.1875 (18.75%)
The majority work is clearly shown.
Points:

30.8125 (21.25%)
Almost all work is clearly shown.
Points:

36.25 (25.00%)
All work is clearly shown.
Explanations
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0 (0.00%)
Less than half of the explanations are complete and correct.
Points:

18.125 (12.50%)
At least half of the explanations are complete and correct.
Points:

27.1875 (18.75%)
The majority of the explanations are complete and correct.
Points:

30.8125 (21.25%)
Almost all explanations complete and correct.
Points:

36.25 (25.00%)
All explanations are complete and correct.
Formatting
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0 (0.00%)
Less than half of the equations, expressions, and variables are properly formatted using the equation editor tool in Microsoft Word.
Points:

18.125 (12.50%)
At least half of the equations, expressions, and variables are properly formatted using the equation editor tool in Microsoft Word.
Points:

27.1875 (18.75%)
The majority of equations, expressions, and variables are properly formatted using the equation editor tool in Microsoft Word.
Points:

30.8125 (21.25%)
Almost all equations, expressions, and variables are properly formatted using the equation editor tool in Microsoft Word.
Points:

36.25 (25.00%)
All equations, expressions, and variables are properly formatted using the equation editor tool in Microsoft Word.

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