To find for the value of the confidence interval, let us first calculate for the values of x and s, the mean and standard deviation respectively.
x = (5 + 18 + 12 + 24 + 28) / 5
x = 17.4 months
s = sqrt{[(5 – 17.4)^2 + (18 – 17.4)^2 + (12 – 17.4)^2 + (24 – 17.4)^2 + (28 – 17.4)^2]/(5-1)}
s = 9.21
The formula for the confidence interval is given as:
Confidence Interval = x ± t s / sqrt(n)
Where t can be taken from standard distribution tables at 95% level at degrees of freedom = n – 1 = 4, t = 2.132. Therefore:
Confidence Interval = 17.4 ± 2.132 * 9.21 / sqrt(5)
Confidence Interval = 17.4 ± 8.78
Confidence Interval = 8.62 months, 26.18 months