Calculate the length of simulation run for 98% confidence level, such that the sample mean lies within ±σ/20 of the population mean

Question-Answer › Category: Modelling & Simulation › Calculate the length of simulation run for 98% confidence level, such that the sample mean lies within ±σ/20 of the population mean

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Mazurek Gravity Staff asked 1 year ago

Calculate the length of simulation run for 98% confidence level, such that the sample
mean lies within ±σ/20 of the population mean

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Mazurek Gravity Staff answered 1 year ago

Given, confidence level, 1 – $\alpha$ = 0.98
Since, the sample mean lies within ±σ/20 of the population mean.
$So, P(X - 20 <p < X + 2) = 1-0 = 0.98 H 5 20$
$o x+ 20 0 o length = X + = X = 20. 10$