The Confidence interval for 95% who believes that the local businesses overcharge = (0.7026, 0.7574)
<h3>
What is meant by confidence interval?</h3>
The range of values we see in our sample and hope to identify the value that most closely represents the population are referred to as a confidence interval.
<h3>According to the given information:</h3>
Sample size n = 1000
73% of town residents believed that local businesses overcharged for their products over 1000 resident.
= (1000/100) x 73
= 730
Sample proportion p = 730/1000
= .73
q = 1-p = 0.23
Std error of proportion = √(pq/n)
= √((.73*0.27)/1000)
= 0.0140
95% Z critical value = 1.96
Margin of error = 1.96*0.0140
= 0.0274
Confidence interval = sample proportion ±margin of error
(0.7026, 0.7574)
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Given that t<span>he expression
represents the total length across the front of the mansion. Let the length of side I be a, then
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Answer: D) the significance level of the test
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Explanation:
The significance level of the test, also known as "alpha", is the probability of making a type 1 error. A type 1 error is where you reject the null hypothesis but it was true all along.
The null hypothesis is where we test a certain probability distribution (eg: normal distribution). Specifically we gather a sample of values and compute the test statistic. If the probability of getting that test statistic or more extreme is smaller than alpha, then we reject the null. This probability value is known as the p-value.
If you lower the alpha value, then that will make it more likely you do not reject the null. Consider an example where alpha = 0.10 to start with. If you get a p-value of 0.02, then you would reject the null. The same would apply for alpha = 0.05; however, with alpha = 0.01, the p-value is no longer smaller than alpha. At this point we do not reject the null. Your textbook may use the phrasing "fail to reject the null".
Going in the opposite direction, increasing the alpha value will make it more likely to reject the null. Each time you adjust the alpha value, keep the p-value to some fixed number (between 0 and 1).
