FORESTRY
AGRICULTURAL STATISTICS AND ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The 99% confidence interval for a proportion is (0.54, 0.72). What is the margin of error?
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0.63
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0.18
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0.09
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0.66
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Explanation:
Detailed explanation-1: -You can calculate a confidence interval with any level of confidence although the most common are 95% (z*=1.96), 90% (z*=1.65) and 99% (z*=2.58).
Detailed explanation-2: -The corresponding z-scores are ± 1.96. If the level of confidence is 99%, this means that we are 99% confident that the interval contains the population mean, µ. The corresponding z-scores are ± 2.575. The difference between the point estimate and the actual population parameter value is called the sampling error.
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