Hi there, are you aware of that the confidence interval for the mean at % is ?
Hello. I am not sure about the complexity of the question I'm asking but its nothing like what I did in high school so I hope this is the correct forum.
I have sets of 300 integers whose value can range between 330 and 370. The mean comes out to be in the range of 350-360 with a CV in the range of 1%.
Because these values are discovered through destructive testing, a small sample size is preferred. I want to know how to quantify the relationship between the sample size and the expected deviation from the mean/cv of the entire population. Any pointers in the right direction or what additional parameters are required would be great.
Hello, I think a key piece of information I left out is that standard deviation of these sets varies and I'm equally interested in the relation between sample size and observed/population cv. Is it valid to work out the mean and standard deviation of resulting CVs to do this? How would this relate back to the sample size?