What is the consequence of increasing the confidence in our interval estimate? increased chance of type...

What is the consequence of increasing the confidence in our interval estimate?

		increased chance of type I error
		increased chance of type II error
		decreased precision in our estimate
		introducing bias into our estimate

Expert Solution

Decreased precision in our estimate.

orchestra answered 1 year ago

1. Explain the difference between the point estimate and interval estimate (confidence interval). 2. What is...

1. Explain the difference between the point estimate and interval estimate (confidence interval). 2. What is margin of error? 3. Why must we use the point estimate pˆ (sample proportion) in the calculation of the standard error when producing a confidence interval for p (population proportion)? 4. Assamplesizeincreases,whatistheeffectonthemarginoferror? Why? 5. Asconfidencelevelincreases,whatistheeffectonthemarginof error? Why? 6. Whatdetermineswhethertouseat-distributionoranormaldistribution for finding a confidence interval for μ ? 7. What is the condition to use Chi-squared distribution when estimating the population standard deviation? 8. Describe...

Q6 What is necessary for an interval estimate to be a confidence interval? [1 Mark] DO...

Q6 What is necessary for an interval estimate to be a confidence interval? [1 Mark] DO NOT WRITE THE ANSWER - USE WORD FORMAT. NO PLAGIARISM PLEASE

Use the confidence interval and the indicated sample data to calculate a confidence interval to estimate...

Use the confidence interval and the indicated sample data to calculate a confidence interval to estimate the population mean. SD = standard deviation a) Salaries of university graduates who took a course in statistics at the university: 95% confidence, n = 41, mean = $ 67, 200, and the standard deviation is known to be $ 18,277. B) The speeds of drivers fined in a speed limit zone of 55 mi / h: 95% confidence, n = 90, mean =...

A 95% confidence interval contains 5. If the confidence level is increased to 99%, will the...

A 95% confidence interval contains 5. If the confidence level is increased to 99%, will the new interval contain 5? Yes No Unable to determine

(a) Explain what "95% confidence" means in a 95% confidence interval? (b) What type of variable...

(a) Explain what "95% confidence" means in a 95% confidence interval? (b) What type of variable is required to construct a confidence interval for a population proportion? (c) Explain why quadrupling the sample size causes the margin of error to be cut in half?

Distinguish between point estimate and confidence interval. How do you construct confidence interval when population SD...

Distinguish between point estimate and confidence interval. How do you construct confidence interval when population SD is known and unknown?

Question

What is the consequence of increasing the confidence in our interval estimate? increased chance of type...

Solutions

Expert Solution

Related Solutions