Consider the probabilities, 0.005 and 0.01. In the standard normal, will the critical value for 0.01...

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Consider the probabilities, 0.005 and 0.01. In the standard normal, will the critical value for 0.01...

Consider the probabilities, 0.005 and 0.01. In the standard normal, will the critical value for 0.01 be greater than or less than the critical value for 0.005? Briefly explain your answer.

math Statistics-And-Probability

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Answer 1

Answer #1

Solution:- The critical value for 0.01 will be less than the critical value for 0.005.

Critical value for 0.01 is + 2.576.

Critical value for 0.005 is + 2.807

As the level of significance decreases, the value of the confidence coefficient increases.

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Answer 2

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Consider the probabilities, 0.005 and 0.01. In the standard normal, will the critical value for 0.01...

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Consider the probabilities, 0.005 and 0.01. In the standard normal, will the critical value for 0.01...