Confidence Intervals, Math Assignment Homework Help

Anonymous
timer Asked: May 16th, 2016
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Question Description

  • 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.


Tutor Answer

cdastangoo
School: UT Austin

Sorry for taking so long to get back to you.A 95% confidence interval essentially means that that one can be 95% certain that the interval contains the true population value as estimated from a larger study. 95% is so commonplace because it is a high rate of confidence that the interval contains the true value, without being too high (i.e. 99%) and unlikely to be att...

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Anonymous
Good stuff. Would use again.

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