# Statistics Coefficient Importance

DQ 1

If we wish to have a 95% confidence interval, what would be the value of the confidence coefficient? [Hint: Table 4B]

DQ 2

In your own words, describe the relationship between the standard error (of the mean) and maximum error.

The standard error is the standard deviation.

The maximum error is the product of the standard deviation and the z or t value

associated with the degree of confidence.

https://brainmass.com/statistics/confidence-interval/statistics-coefficient-importance-502675

#### Solution Preview

Assignment 1

DQ 1

If we wish to have a 95% confidence interval, what would be the value of the confidence coefficient? [Hint: Table 4B]

Okay, I'm a little concerned about this question. It reminds me of the old playground joke that kids used to trick each other with when I was a little kid: "what color was George Washington's white horse?" they'd ask. And getting so overly concerned that you didn't know a whole lot about George Washington in the first place (let alone the color of his horse!) you'd totally miss the fact that the answer to the question was buried inside the question itself (his "white horse" was white, of course!). The answer to the question, "If we wish to have a 95% confidence interval, what would be the value of the confidence coefficient?" is that the confidence coefficient would be 95%. Confidence intervals are ...

#### Solution Summary

The importance of statistics importance are determined.