In order to test whether the average waiting time this year differs from last year, a sample of 25 data were collected this year

Question

4 years ago

10

In order to test whether the average waiting time this year differs from last year, a sample of 25 data were collected this year

with a mean of 0.74 hours and standard deviation 0.22 hours. The 99% confidence interval for banking service this year has a wider range than 95% confidence interval for banking service this year.
a.False
b.True

Mathematics

1 answer:

irina [24] · Answer 1 · 2022-02-09T18:03:52+03:00

Answer:

True

Step-by-step explanation:

Confidence interval for banking service in a given confidence level can be calculated as M±ME where

M is the mean banking service in the sample and
ME is the Margin of Error

margin of error (ME) is calculated using the formula

ME= $\frac{t*s}{\sqrt{N} }$ where

t is the corresponding statistic in the given confidence level

s is the standard deviation of the sample(or of the population if it is known)

N is the sample size

t-statistic for 99% confidence level is always bigger than 95% confidence level which makes Margin of Error bigger and thus confidence interval wider.