Asked by Mo Cain Jumaah on Apr 26, 2024
Verified
Suppose a 90% confidence interval for the mean time it takes to serve a customer at a drive-in bank is 120 seconds to 220 seconds. In repeated sampling 90% of the intervals constructed using the appropriate formula will contain the actual mean time.
Confidence Interval
A range of values derived from sample statistics that is likely to contain the value of an unknown population parameter with a specified probability.
Mean Time
An average or expected time that represents the central tendency of a set of times.
- Perceive the importance of standard error in the development of confidence intervals and how it is calculated for different types of estimations.
Verified Answer
SL
Samantha LópezApr 29, 2024
Final Answer :
True
Explanation :
This statement accurately describes the interpretation of a 90% confidence interval. In repeated sampling, if we were to construct 100 intervals, we would expect 90 of them to contain the true population mean.
Learning Objectives
- Perceive the importance of standard error in the development of confidence intervals and how it is calculated for different types of estimations.