Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

exercise 7.99: Coverage percent of 95% confidence interval. For this exercise, use the Confidence Interval applet. Set the confidence level at 95%, and click the

exercise 7.99:

Coverage percent of 95% confidence interval.For this exercise, use theConfidence Intervalapplet. Set the confidence level at 95%, and click the "Sample" button 10 times to simulate 10 confidence intervals. Record the percent hit (that is, percent of intervals including the population mean). Simulate another 10 intervals by clicking another 10 times (do not click the "Reset" button). Record the percent hit for your 20 intervals. Repeat the process of simulating 10 additional intervals and recording the results until you have a total of 200 intervals. Plot your results and write summary of what you have found.

answer: the answer may not be close to 95% but eventually with enough repeats, the percent hits should be quite close to 95%

7.100Coverage percent of 90% confidence interval.Refer to the previous exercise. Do the simulations and report the results for 90% confidence.

  1. In Exercise 7.99. Create the plot by hand using a ruler and label both the x- and y-axis. Please write legibly. The y-axis should be '% Hit' and you can use whatever sample size (n) you like. Provide the sample size (n) in your answer and use the same sample size (n) for 7.100. ?
  2. Complete Exercise 7.100. Create the plot by hand using a ruler and label both the x- and y-axis. Please write legibly and compare your results with Exercise 7.99. ?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Understanding Econometrics With Economic Applications

Authors: Dennis Halcoussis

1st Edition

0030348064, 9780030348068

More Books

Students also viewed these Economics questions