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Let the event as the correctness of each confidence interval using Bernoulli random variables ( 1 for correct, 0 for wrong). Using the knowledge of
Let the event as the correctness of each confidence interval using Bernoulli random variables ( 1 for correct, 0 for wrong). Using the knowledge of the central limit theorem, calculate the smallest number of confidence intervals, you can observe to assure that the probability of the difference between the confidence level from the empirical result and the theoretical confidence level being more than 0.05, will be less than 0.01. Please show working out.
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