Question: 14.69 Independent confidence intervals You plan to construct a 95% confidence interval in five situations with independent data sets. a. Assuming that the results of

14.69 Independent confidence intervals You plan to construct a 95% confidence interval in five situations with independent data sets.

a. Assuming that the results of the confidence intervals are statistically independent, find the probability that all five confidence intervals will contain the parameters they are designed to estimate. (Hint: Use the binomial distribution.)

b. Which confidence level should you use for each confidence interval so that the probability that all five intervals contain the parameters equals exactly 0.95?

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