IM USING UP SO MANY POINTS CAUSE PEOPLE WONT ANSWER PLZ HELP-A business owes $8000 on a loan. Every month, the business pays 12
1 answer:
You might be interested in
Critical probability is the essentially cut-off value. The critical probability when the confidence level of 58% is 0.79.
<h3>What is the critical probability?</h3>Critical probability is the essentially cut-off value that defines the region where the test statistic is unlikely to lie.
As it is given that the confidence level is 58%. therefore, in order to calculate the critical probability, we need to calculate the margin of error within a set of data, and it is given by the formula
where the value of the α is expressed as,
Now, as the confidence interval is given to us, therefore, the value of the alpha can be written as,
Further, the critical probability, assuming a confidence level of 58% is,
Hence, the critical probability is 0.79.
Learn more about Critical Probability: