T-interval for the mean or the corresponding

Reference no: EM131009369

1. An analyst decided to use either the 95% t-interval for the mean or the corresponding 95% interval for the median, whichever was shorter. His sample was symmetric, so the mean and median are roughly the same in his population. What do you think of this approach?

2. You have a very small sample, with n = 1. What is the chance that the median in the population is larger than your single value? Smaller?

Reference no: EM131009369

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