Question: Why might a company use a lower confidence interval, such as 80%, rather than a high confidence interval, such as 99%? A)They are in the
Why might a company use a lower confidence interval, such as 80%, rather than a high confidence interval, such as 99%?
A)They are in the medical field, so cannot be so precise
B)They track the migration of fish where accuracy is not as important
C)They make computer parts where they are too small for higher accuracy
D)They make children's toys where imprecision is expected
I am confused because having a lower confidence interval it would be faster for a smaller sample size.
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