When Constructing Confidence Interval for a Parameter,we Generally Set the Confidence

question 121

True/False

When constructing confidence interval for a parameter,we generally set the confidence level 1 - $\alpha$ close to 1 (usually between 0.90 and 0.99)because it is the probability that the interval includes the actual value of the population parameter.

---

Definitions:

Ratio

A mathematical expression that represents the quantitative relationship between two numbers, showing how many times one value contains or is contained by the other.

Organization's Resources

Assets, capabilities, and other valuables owned or utilized by an organization for the purpose of maintaining operations and achieving its objectives.

Goods

Physical items that are produced for purchase by consumers, often used to satisfy a want or a need.

Services Produced

The outcomes or results generated by activities that are intended to fulfill a demand or serve a purpose, but are not physical objects.