Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

How did this data help in your decision making process?If you had the choice to make that decision again, would you make the same decision

How did this data help in your decision making process?If you had the choice to make that decision again, would you make the same decision and why?I'll be sure to give thumbs up!

image text in transcribed
Did you know confidence intervals are also used to project reliability in consumer products? We use confidence intervals in our daily lives, from consumer ratings to election projections. Seeing this data helps us make decisions on the best option to choose. If, for example, one brand of refrigerator has a 17% chance of needing repair in the first three years. A different brand may have a 3-year repair rate of 19%. If a footnote says, "differences of more than 4% are meaningless," we can conclude that the repair rates really are not that different! However, any refrigerator with a repair rate more than 4% higher than 17% is more likely to need repair in the next three years. ' ' For this discussion, locate a confidence interval that you have used in your work or professional life. i ' Provide a link to the data and respond to the following questions. 0 How did this data help in your decisionmaking process? ' 0 If you had the choice to make that decision again, would you make the same decision and why

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Practicing Statistics Guided Investigations For The Second Course

Authors: Shonda Kuiper, Jeff Sklar

1st Edition

9780321586018

Students also viewed these Mathematics questions

Question

4. Prove Corollary 2.1.

Answered: 1 week ago