This week you will begin working on Phase 2. Using the same data set and variables ( see attached)  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. 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 ÃÆ’ 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.

3. 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 ÃÆ’ 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.

4. 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.

due tomorrow 7 am cst

2 pages APA format & references