Whenever an effect is significant, all values in the confidence interval will move in which direction?
Whenever an effect is significant, all values in the confidence interval will move in which direction?
Chapter8: Sequences, Series,and Probability
Section8.7: Probability
Problem 11ECP: A manufacturer has determined that a machine averages one faulty unit for every 500 it produces....
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Whenever an effect is significant, all values in the confidence interval will move in which direction?
Expert Solution
Step 1
The confidence level indicates the possibility that the confidence interval contains the population parameter. It is denoted by a. The value is chosen by the researcher. Most common confidence levels are 90%, 95%, and 99%.
Interpretation:
It is 95% confident that the population parameter (mean, proportion, standard deviation) lies within the confidence interval. Also, there may be one-sided or two-sided confidence interval.
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