What Is the Purpose of Calculating a Confidence Interval

question 106

Multiple Choice

What is the purpose of calculating a confidence interval?

• A) To provide a range of values that has a certain large probability of containing the sample statistic of interest.
• B) To provide a range of values that, with a certain measure of confidence, contains the sample statistic of interest.
• C) To provide a range of values that, with a certain measure of confidence, contains the population parameter of interest.
• D) To provide a range of values that has a certain large probability of containing the population parameter of interest.

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Definitions:

Significant Figures

The number of digits in a value that contribute to its accuracy, typically used in scientific measurements.

Percent

A ratio or fraction out of 100 representing a part of a whole.

Cent

A monetary unit that is equal to one hundredth of the base unit of currency in many countries, such as the dollar or euro.

Accurate

The quality of being true, correct, or precise.