FORESTRY
AGRICULTURAL STATISTICS AND ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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1.699
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0.56
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0.537
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1.12
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Detailed explanation-1: -Suppose we want to generate a 95% confidence interval estimate for an unknown population mean. This means that there is a 95% probability that the confidence interval will contain the true population mean. Thus, P( [sample mean]-margin of error < < [sample mean] + margin of error) = 0.95.
Detailed explanation-2: -Step 1: Calculate the width of the confidence interval (a, b) by calculating b−a . Step 2: Calculate the margin of error based on the width of the confidence interval by dividing the width by 2: margin of error =b−a2 margin of error = b − a 2 .
Detailed explanation-3: -With a 95 percent confidence interval, you have a 5 percent chance of being wrong. With a 90 percent confidence interval, you have a 10 percent chance of being wrong. A 99 percent confidence interval would be wider than a 95 percent confidence interval (for example, plus or minus 4.5 percent instead of 3.5 percent).