Business Finance
Business Statistics question 9

Question Description

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In general, higher confidence levels provide

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Final Answer

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Higher confidence levels have a wider confidence intervals.

Explaination

1.It is always higher than lower confidence levels (all other things being equal).

2.Confidence Interval = Sample Mean +/- (Critical Value) * Sample Standard Deviation / SQRT (Sample Size)

(Critical Value) is "curve" whose distribution depends on Confidence Level. Higher Confidence Level is "farther out" on the "curve" which increases the (Critical Value). Increasing (Critical Value) makes wider Confidence Interval.

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Felix N (182)
Duke University

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