Question: What does 98% confidence mean in a 98% confidence interval? A. The probability that the value of the parameter lies between the lower and upper

What does "98% confidence" mean in a 98% confidence interval?

A. The probability that the value of the parameter lies between the lower and upper bounds of the interval is 98%. The probability that it does not is 2%.

B. If 100 different confidence intervals are constructed, each based on a different sample of size n from the same population, then we expect 98 of the intervals to include the parameter and 2 to not include the parameter.

C. The confidence interval includes 98% of all possible values for the parameter.

D. The value of the parameter lies within 98% of a standard deviation of the estimate.

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