1. Explain why it is important to calculate the confidence interval in addition to calculating the point...

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1. Explain why it is important to calculate the confidence interval in addition to calculating the point estimate of a population parameter.

2. Explain what being 95% confident that the population mean is in an interval actually indicates.

3. An increase in the level of confidence will result in a confidence interval for the population mean.

4. An increase in the sample size will result in a confidence interval for the population mean.

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Business Statistics For Contemporary Decision Making

ISBN: 9781119577621

3rd Canadian Edition

Authors: Ken Black, Ignacio Castillo

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Question Posted: May 13, 2023 02:45 AM

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1. Explain why it is important to calculate the confidence interval in addition to calculating the point...

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1 It is important to calculate the confidence interval in addition to calculating the point estimate of a population parameter because the confidence interval provides a range of plausible values for ...View the full answer

Business Statistics For Contemporary Decision Making

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