Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The vast majority of the world uses a 95% confidence in building confidence intervals. Give your opinion on why 95% confidence is so commonplace. Justify
The vast majority of the world uses a 95% confidence in building confidence intervals. Give your opinion on why 95% confidence is so commonplace. Justify your response.
Construct a hypothetical 95% confidence interval for a hypothetical case of your choosing. Use your own unique choice of mean, standard deviation, and sample size to calculate the confidence interval. Select one (1) option provided below and analyze what will happen to your confidence interval based on the option you selected:
- The confidence changes to 90%.
- The confidence changes to 99%.
- The sample size is cut in half.
- The sample size is doubled.
- The sample size is tripled.
Provide a rationale for your response.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started