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