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Statements about confidence intervals

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Please explain the difference between the percentages assigned to a one, two and three standard deviation move (68%, 95% and 99%) and using these percentages to make statements about confidence intervals, such as "The current price of copper is $3.00 per pound, with a 95% confidence interval that the price will be within +/- 2 standard deviations".

Reference no: EM131730849

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