STATISTICAL TECHNIQUES AND TOOLS
CONFIDENCE INTERVALS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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You are given two sets of data measuring the same information, both with the same sample size. Set A has a larger Standard Error than Set B. If you were looking for a 99.8% Confidence Interval, which set would have a larger Margin of Error?
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Set A
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Set B
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Not enough information
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I have no idea what you’re asking me to do
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Explanation:
Detailed explanation-1: -Since 95% of values fall within two standard deviations of the mean according to the 68-95-99.7 Rule, simply add and subtract two standard deviations from the mean in order to obtain the 95% confidence interval.
Detailed explanation-2: -The stated confidence level was 95% with a margin of error of ± 2. We can conclude that the results were calculated to be accurate to within 2 percentages points 95% of the time.
There is 1 question to complete.