Description
One can calculate the 95% confidence interval for the mean with the population standard deviation known. This will give us an upper and a lower confidence limit. What happens if we decide to calculate the 99% confidence interval? Describe how the increase in the confidence level has changed the width of the confidence interval. Do the same for the confidence interval set at 80%. Include an example with actual numerical values for the intervals in your post to help with your explanations.
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Explanation & Answer
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Running Head: CONFIDENCE LEVEL
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Topic
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CONFIDENCE LEVEL
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Question
One can calculate the 95% confidence interval for the mean with the population standard
deviation known. This will give us an upper and a lower confidence limit. What happens if
we decide to calculate the 99% confidence interval? Describe how the increase in the
confidence level has changed the width of the confidence interval. Do the same for the
confidence interval set at 80%. Include an e...