STAT WEEK 7

Confidence Intervals" (Note: Please respond to one [1] of the following two [2] bulleted items)

• The vast majority of the world uses a 95% confidence in building confidence intervals.  Give your opinion on why 95% confidence is so commonplace. Justify your response.
• Construct a hypothetical 95% confidence interval for a hypothetical case of your choosing. Use your own unique choice of mean, standard deviation, and sample size to calculate the confidence interval. Select one (1) option provided below and analyze what will happen to your confidence interval based on the option you selected:
  • The confidence changes to 90%.
  • The confidence changes to 99%.
  • The sample size is cut in half.
  • The sample size is doubled.
  • The sample size is tripled.

          Provide a rationale for your response.