After much effort, you are convincing your old school boss to construct a confidence interval as part
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After much effort, you are convincing your “old school” boss to construct a confidence interval as part of the decision-making process for a new customer service program. Regarding the confidence level you tell him “The confidence level is a number between 0 and 100, chosen based on how confident we want to be that the interval includes the population mean.” To which he responds “Fine then. Set the confidence level to 100%.” How would you explain to your boss that it is not reasonable to set the confidence level to 100%?
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Related Book For
Principles Of Managerial Statistics And Data Science
ISBN: 9781119486411
1st Edition
Authors: Roberto Rivera
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