Question

For the confidence interval given by the formula X¯±1.24⋅σn−−√, what is the corresponding confidence level? For the purposes of this question, we can assume that n is sufficiently large, and σ is known.

Express your answer as a percent, but do NOT include the percent sign (%) in your response.

Round your response to at least 2 decimal places.

   

Answer 1

for critical value z =1.24, corresponding percentile value = 0.8925 ,

therefore confidence level =1-2*(1-0.8925) = 0.785 ~ 78.50 %