Problem regarding the confidence interval

Assignment Help Basic Statistics
Reference no: EM131106856

Provide one statement AND one question about the following:

A confidence level is a percentage of a sample that indicates a certain section or range of data points that can contain a population parameter. The range itself is the confidence interval.

The larger the sample size, the smaller the width of the confidence level and the smaller the range or confidence interval. As the width of the confidence interval gets smaller, the standard error also decreases. As the confidence interval includes less points or gets smaller, the chance of error decreases because there are less data points involved.

The smaller the sample size, the larger the width of the confidence level and the larger the range or confidence interval. As the width of the confidence interval gets larger, the standard error also increases. As the confidence interval includes more data points or gets larger, the chance of error increases because there are more data points involved.

Reference no: EM131106856

Questions Cloud

Question regarding the sample size and the variability : The width of the confidence interval expands more when the confidence level increases. In addition, the sample size and the variability also influence the width of the confidence interval.
Calculate the expected rate of return on investments : Calculate the expected rate of return on investments X and Y using the most recent year's data.Assuming that the two investments are equally risky, which one should Douglas recommend? Why?
Identify the classes of states contained in this state : Consider the Markov chain depicted in Fig. P11.3, which is reducible. Identify the classes of states contained in this state transition diagram.
How will you delegate assignments & track their deadlines : Imagine yourself in charge of a virtual team. Your team members work off-site somewhere, & you don't even have a chance to see them or observe their daily work activities. How will you delegate assignments & track their deadlines
Problem regarding the confidence interval : A confidence level is a percentage of a sample that indicates a certain section or range of data points that can contain a population parameter. The range itself is the confidence interval.
Do you think younger customers are often stereotyped : Do you think younger customers are often stereotyped? In what way? How might serving an elderly person be different than serving a young person
Is the infinitely long markov chain depicted irreducible : Figure P11.2 shows the state transition diagram for the random walk process, where the transition probability p is greater than zero. Is the infinitely long Markov chain depicted here irreducible? Justify your answer.
What leadership style you would implement in your business : Copy and paste your agenda from the lesson here. Then, explain what leadership style you would implement in your business meeting and why
Calculate the required rate of return : Calculate the required rate of return for an asset that has a beta of 1.8, given a risk-free rate of 5% and a market return of 10%.If investors have become more risk-averse due to recent geopolitical events, and the market return rises to 13%, what i..

Reviews

Write a Review

Basic Statistics Questions & Answers

  Two draws will be made at random from a box containing 5

1. two draws will be made at random from a box containing 5 marbles red yellow green black and blue. the unconditional

  Find out the value of zstat

In a random sample of 400 items, 88 are defective. If the null hypothesis is that 20% of the items in the population are defective, what is the value of ZSTAT?

  Find the annual rate of premium payment

If the force of disability is a constant 0.03, the force of mortality is a constant 0.06, and the force of interest is a constant 0.05, find the annual rate of premium payment.

  Detect the customers to give give them loan or not

This Case Study problem is basically a prediction problem and we have to use Supervised Learning Algorithms of Machine Learning . Here we are given some input data with some multiple inputs and a output and we have to predict the output. It is basica..

  Find the short-run competitive equilibrium

Find the short-run competitive equilibrium: the price per ride, number of rides per day, and the profit per cab per day. Is the taxicab market in long-run equilibrium?

  Mean of a random sample of size

Let X be the mean of a random sample of size n from a distribution that is N(µ, u2), where the positive variance u2 is known. Use the fact that (1)(2) - Cl>( -}) = 0.954 to find, for each µ,

  Develop a risk profile for the optimal strategy

Analyze the DT to determine the optimal strategy for the company. What is the expected value of the optimal strategy? Develop a risk profile for the optimal strategy.

  During each day the probability that your computers

during each day the probability that your computers operating system crashes at least once is 5 independent of every

  Assume that adults have iq scores that are normally

assume that adults have iq scores that are normally distributed with a mean of 100 and a standard deviation of 15.find

  Business analytics implementation plan

In learning about BA, you have covered quite a few topics from the manager's decision-making process to technology integration. The best way to pull all of this knowledge together is to create a BA implementation plan for a hypothetical organizati..

  A grocery store is sponsoring a sales promotion where the

a grocery store is sponsoring a sales promotion where the cashiers give away one of the letters a e l s u v for each

  What are degrees of freedom

From Jackson (2016): even-numbered Chapter exercises for Ch. 8 and 10 (p. 223-224; 274-275) What are degrees of freedom? How are they calculated?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd