# Statistics : Confidence Intervals

1. Why are confidence intervals useful?

2. You and a colleague conducted a study on grocery totals for shoppers in the State of Michigan. Your estimated grocery totals at CI 95%: ($78, $98). In writing the report, your colleague stated: "There is a 95% chance that the true value of µ will fall between $78 and $98.

a. Is this a true or false interpretation of the confidence interval?

b. Give a reason for your answer.

https://brainmass.com/statistics/confidence-interval/statistics-confidence-intervals-39204

#### Solution Preview

1. Confidence intervals give you information( range) on the true value of the value you are interested (such as population mean and ...

#### Solution Summary

Confidence Intervals are investigated. The response received a rating of "5/5" from the student who originally posted the question.

$2.19