STATISTICAL TECHNIQUES AND TOOLS
CONFIDENCE INTERVALS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Find the Critical Value( z*) for an 86% Confidence Level. Be careful.
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-1.48
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1.48
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1.282
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-1.47
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Explanation:
Detailed explanation-1: -Critical value (z*) for a given confidence level. If we want to be 95% confident, we need to build a confidence interval that extends about 2 standard errors above and below our estimate. More precisely, it’s actually 1.96 standard errors. This is called a critical value (z*).
Detailed explanation-2: -Answer and Explanation: The z-value associated with a two-sided 82% confidence interval is 1.341.
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