FORESTRY
AGRICULTURAL STATISTICS AND ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A ____ gives an interval of plausible values for the ____
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confidence interval, statistic
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point estimate, parameter
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point estimate, statistic
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confidence interval, parameter
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Explanation:
Detailed explanation-1: -A confidence interval only provides a plausible range of values for a parameter. While we might say other values are implausible based on the data, this does not mean they are impossible. The rule where about 95% of observations are within 2 standard deviations of the mean is only approximately true.
Detailed explanation-2: -Specifically, if a statistic is significantly different from 0 at the 0.05 level, then the 95% confidence interval will not contain 0. All values in the confidence interval are plausible values for the parameter, whereas values outside the interval are rejected as plausible values for the parameter.
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