STATISTICAL TECHNIQUES AND TOOLS
CONCEPT OF POINT AND INTERVAL ESTIMATION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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When
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True
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False, it’s
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False, it’s
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None of the above
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Explanation:
Detailed explanation-1: -The confidence level is equivalent to 1 – the alpha level. So, if your significance level is 0.05, the corresponding confidence level is 95%. If the P value is less than your significance (alpha) level, the hypothesis test is statistically significant.
Detailed explanation-2: -The value of z* for a confidence level of 95% is 1.96. After putting the value of z*, the population standard deviation, and the sample size into the equation, a margin of error of 3.92 is found. The formulas for the confidence interval and margin of error can be combined into one formula.
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