Let X be a continuous random variable. We know that it takes values between 0 and 6 , but we do not know its distribution or its mean and variance, although we know that its variance is at most 4 . We are interested in estimating the mean of X , which we denote by h . To estimate h , we take n i.i.d. samples X1,…,Xn , which all have the same distribution as X , and compute the sample mean
H=1n∑i=1nXi.
Express your answers for this part in terms of h and n using standard notation.
E[H]=
unanswered
Given the available information, the smallest upper bound for Var(H) that we can assert/guarantee is:
Var(H)≤
unanswered
Calculate the smallest possible value of n such that the standard deviation of H is guaranteed to be at most 0.01.
This minimum value of n is:
unanswered
We would like to be at least 96% sure that our estimate is within 0.02 of the true mean h . Using the Chebyshev inequality, calculate the minimum value of n that will achieve this.
This minimum value of n is:
unanswered
Suppose now that X is uniformly distributed on [h−3,h+3], for some unknown h . Using the Central Limit Theorem, identify the most appropriate expression for a 95% confidence interval for h . You may want to refer to the normal table.
Normal Table
Show
[H−1.96⋅3−−−−−−√n−−√,H+1.96⋅3−−−−−−√n−−√]
[H−1.963n−−√,H+1.963n−−√]
[H−1.96⋅3–√n−−√,H+1.96⋅3–√n−−√]
[H−1.96⋅3n−−√,H+1.96⋅3n−−√]
unanswered