1) Suppose you build three confidence intervals from the same data set, one with 80% confidence, one...
Question:
1) Suppose you build three confidence intervals from the same data set, one with 80% confidence, one with 90% confidence and one with 95% confidence. Which of the three intervals will be the widest? Which of the three intervals will be the narrowest? Explain.
2) You now know how to compute confidence intervals for both means and proportions. Discuss what methods you will use to determine which type of confidence interval should be computed for a given scenario.
3) If the consequences of making a Type I Error are severe, would you choose the level of significance, α, to be equal to 0.01, 0.05 or 0.10. Briefly explain your choice.
4) In your own words, explain what a p-value is. What is the criterion for rejecting the null hypothesis when using the p-value to make a decision about a test?
5) When performing a hypothesis test on the mean, discuss when you should be using a t test statistics versus when you should be using a z test statistic.
Expert Answer:
Answer 1 Suppose you build three confidence intervals from the same data set one with 80 confidence ... View the full answer
