Difference in degree of confidence and confidence interval

Reference no: EM131014578

2. a. What is the difference between degree of confidence and confidence interval?

b. Provide a sketch of sample data that are associated with (i) an unbiased and efficient estimate of the mean and (ii) a biased and inefficient estimate of the mean.

c. Write an example of a confidence statement, with supporting sketches, that illustrates each of the following situations: (i) large confidence interval but large degree of confidence and (ii) small confidence interval but small degree of confidence.

Reference no: EM131014578

Questions Cloud

Determining the personal values : Describe your actions out loud to someone else in class or to a friend. What can you say or do that would be consistent with your personal values?

What was the firms cash flow from operating activities : In 2012, MacDonald and Sons had net income of $–80,000. If accruals increased by $50,000, receivables and inventories rose by $150,000, and depreciation and amortization totaled $30,000, what was the firm’s cash flow from operating activities?

What is discretion as it applies to criminal justice system : What is discretion as it applies to the criminal justice system? Where in the criminal justice system is discretion used? What factors are considered when making a discretionary decision? Make a list

According to the general dividend valuation model : According to the general dividend valuation model, a firm that reinvests all its earnings and pays no cash dividends can still have a common stock value greater than zero. How is this possible?

Difference in degree of confidence and confidence interval : Write an example of a confidence statement, with supporting sketches, that illustrates each of the following situations: (i) large confidence interval but large degree of confidence and (ii) small confidence interval but small degree of confidence..

Approximate percentage change in price if interest rate rise : Draw the price-ytm (i) graph for a 5% fixed-coupon bond that has 10 years to maturity (assuming annual coupon payments). Calculate the duration for this bond if the interest rate is 3%. What is the approximate percentage change in price if the intere..

What is meant by term randomized comparative treatments : What advice (at least two items) would you give to someone who is about to sample a population of civil engineering systems or system components in order to study their behavior, characteristics, operations, and the like?

What is the tax liability : Venus, Inc, has sales of 2,000,000. The common stockholders received $400,000 in cash dividends and preferred stockholders received $200,000. Interest expenses were $150,000 while operating expenses totaled $600,000, and cost of Goods Sold was $500,0..

Describe the roles and responsibilities of each staff member : List the staff members required to deliver the proposed program. Describe the roles and responsibilities of each staff member

User Account

All Pages