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 of the following values below represents the critical value for a 98% confidence interval?
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2.326
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2.054
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1.645
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3.091
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Explanation:
Detailed explanation-1: -the R output showing the z* multipliers for 90, 95, 98, and 99% confidence intervals respectively being 1.645, 1.960, 2.326, and 2.576.
Detailed explanation-2: -The critical z-score values when using a 95 percent confidence level are-1.96 and +1.96 standard deviations.
Detailed explanation-3: -Hence, the critical values of the z score for a 99% confidence interval are ±2.58 .
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