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CFA Institute CFA-Level-I Exam - Topic 3 Question 14 Discussion

A sample of size 600 is drawn from a population. The sample mean equals 329. The total width of the 99% confidence interval for the population mean is 893. The estimated population variance equals ________.
D) 7.3
A) 6.7
B) 4.9
C) 6.3

CFA Institute CFA-Level-I Exam - Topic 3 Question 14 Discussion

Actual exam question for CFA Institute's CFA-Level-I exam
Question #: 14
Topic #: 3
[All CFA-Level-I Questions]

A sample of size 600 is drawn from a population. The sample mean equals 329. The total width of the 99% confidence interval for the population mean is 893. The estimated population variance equals ________.

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Suggested Answer: D
by Cathern at Mar 19, 2025, 06:11 AM

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Frank
6 months ago
Wait, how do we even calculate that?
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Nohemi
7 months ago
I think the variance is around 6.3.
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Karrie
7 months ago
The sample size is 600, that's pretty big!
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Stevie
7 months ago
Definitely going with option D, 7.3 seems right.
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Carma
7 months ago
Not sure about that confidence interval, seems off to me.
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Raymon
8 months ago
I'm a bit confused about the relationship between the width of the interval and the variance. I hope I can remember the right formula during the exam!
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Mauricio
8 months ago
This question feels similar to one we practiced in class, where we had to derive variance from the confidence interval width. I think it involves dividing by the sample size.
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Latrice
8 months ago
I think we need to use the formula for the confidence interval to find the standard error first, but I can't recall the exact steps.
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Gretchen
8 months ago
I remember something about confidence intervals, but I'm not sure how to calculate the variance from the width.
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Whitley
8 months ago
This looks straightforward. We just need to plug in the values we're given and do the math. I'm confident I can work through this step-by-step and arrive at the correct answer.
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Jerry
9 months ago
Wait, what? I'm lost. How do we get from the confidence interval information to the population variance? I need to review my notes on this type of problem.
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Samuel
9 months ago
I've got this! We can use the formula for the 99% confidence interval: sample mean +/- (t-value * standard error). Rearranging this, we can solve for the population variance.
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Francis
9 months ago
Hmm, I'm a bit confused on how to approach this. I know we need to use the formula for the confidence interval, but I'm not sure how to rearrange it to solve for the population variance.
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Dudley
9 months ago
Okay, let's think this through step-by-step. We have the sample size, sample mean, and the total width of the 99% confidence interval. We can use this information to calculate the population variance.
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Armando
1 year ago
I wonder if the population is as confused as I am right now. Time to channel my inner math genius!
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Florencia
1 year ago
That makes sense, thanks for the clarification!
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Colton
1 year ago
The estimated population variance is 1789.
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Rashad
1 year ago
I think we can use the formula for confidence interval to solve this.
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Francoise
1 year ago
This question is like a riddle wrapped in an enigma. Time to unleash my inner Sherlock Holmes!
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Antonio
1 year ago
Yes, that's correct! Great detective work!
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Aleisha
1 year ago
The estimated population variance is 1789. Can you confirm?
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Mira
1 year ago
Let's use the formula for confidence interval to solve this mystery.
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Denae
1 year ago
Wait, what's the formula for population variance again? *frantically flips through notes*
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Letha
1 year ago
Okay, let's see... Confidence interval, sample size, and sample mean. I got this!
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Eva
1 year ago
The estimated population variance is 1786. Makes sense now.
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Cassie
1 year ago
Sample size is 600, sample mean is 329, confidence interval width is 893. Estimated population variance is 1786.
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Tresa
1 year ago
So, the estimated population variance is 1786. Got it.
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Whitney
1 year ago
Sample mean equals 329, total width of 99% confidence interval is 893. Estimated population variance equals 1786.
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Tamesha
1 year ago
Hmm, this looks like a tricky one. Time to put on my thinking cap and crunch some numbers!
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Mona
1 year ago
Well, I used the formula for confidence interval width and got 1786, so I'm sticking with that.
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Xochitl
1 year ago
I disagree, I calculated it to be 4465.
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Mona
1 year ago
I think the estimated population variance is 1786.
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