What role does the level of confidence play in an interval estimate?
Can you help me understand? An example would also be helpful.© BrainMass Inc. brainmass.com June 4, 2020, 2:46 am ad1c9bdddf
Confidence level of an interval estimate of a parameter is the probability that the interval estimate will contain the parameter. The higher the level of confidence, the wider the interval estimate must be.
First of all, the confidence interval is used to describe the amount of uncertainty that is associated with a sample estimate of the population parameter. In other words, it a specific interval estimate of the parameter that is determined by utilizing ...
The expert determines what roles the level of confidence plays in an interval estimates.