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STATISTICS FOR BUSINESS II

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BUS224B

10 June 2020 -11 June 2020

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Question 32

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The purpose of a confidence interval is to _____.

Select one:

a. use a sample mean or mean difference to estimate the corresponding population mean or mean difference

b. use a population mean or mean difference to predict a sample mean or mean difference

c. use a level of confidence to estimate a sample mean

d. use the sample mean to determine a level of confidence

Answer 1

Confidence interval are constructed to estimate the population parameters with a certain degree of confidence .

For example when we calculate 95% confidence interval for population mean then the resulting interval tells us that we are 95% confident that population mean will lie within above calculated limits.

So purpose of the confidence interval is use a sample mean or mean difference to estimate the corresponding population mean or mean difference.

Option A is correct