- #1
Melawrghk
- 145
- 0
I don't know which forum to put this in... So here goes.
Basically, I have gathered 30 data points that vary from about 1.3 - 4.7 in value (it doesn't matter what it is) with a mean of 2.98. Since I haven't done any statistics courses yet, I used the built in Excel function for determining the confidence interval (95%) and the value I got is about 0.33, while the standard deviation of the values was 0.92.
So my question is, what does that mean exactly? Does it have something to do with the probability that the data point collected will fall within the central 95% of the area under the bell curve?
I'd really appreciate any help on this one. Thanks!
Homework Statement
Basically, I have gathered 30 data points that vary from about 1.3 - 4.7 in value (it doesn't matter what it is) with a mean of 2.98. Since I haven't done any statistics courses yet, I used the built in Excel function for determining the confidence interval (95%) and the value I got is about 0.33, while the standard deviation of the values was 0.92.
So my question is, what does that mean exactly? Does it have something to do with the probability that the data point collected will fall within the central 95% of the area under the bell curve?
I'd really appreciate any help on this one. Thanks!