STATISTICAL TECHNIQUES AND TOOLS
CONFIDENCE INTERVALS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which confidence would result in a wider interval (assuming nothing else changed), 91% or 97%?
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97%, z* is larger for higher confidence intervals
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97%, the standard error is larger for higher confidence intervals
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91%, z* is larger for lower confidence intervals
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91%, the standard error is smaller for lower confidence intervals
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Explanation:
Detailed explanation-1: -In particular, the 95% confidence interval is narrower than the 98% confidence interval for the same parameter, as determined from the same sample.
Detailed explanation-2: -The confidence interval increases with the increase in Z-score value and hence, we can say that the highest confidence level among the given options (i.e.d) 99% ) will yield the widest confidence interval.
Detailed explanation-3: -Note that for a given sample, the 99% confidence interval would be wider than the 95% confidence interval, because it allows one to be more confident that the unknown population parameter is contained within the interval.
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