STATISTICAL TECHNIQUES AND TOOLS
CONFIDENCE INTERVALS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A research company wants to estimate the proportion of people who like oatmeal. They want the confidence level to be 95%. The company gets 325 people to sign up for the survey, but on the day that the survey is issued, only 250 people show up and take the survey. What happens to the confidence interval?
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It gets larger
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It gets smaller
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It stays the same
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Too little information given
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Explanation:
Detailed explanation-1: -The 100(1-)% confidence interval will include the true value of the population parameter with probability 1-, i.e., if = . 05, the probability is about . 95 that the 95% confidence interval will include the true population parameter.
Detailed explanation-2: -A 99% confidence interval estimate can be interpreted to mean that: If all possible samples are taken and confidence interval estimates are developed, 99% of them would include the true population mean somewhere within their interval.
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