Asked by chase haines on Sep 29, 2024
Verified
The difference between the sample statistic and actual value of the population parameter is the confidence level of the estimate.
Confidence Level
The probability that a confidence interval contains the true population parameter, expressing the degree of certainty in estimation.
Sample Statistic
A numerical measure that describes an aspect of a sample of the population data.
Population Parameter
A numerical value that describes a characteristic of the entire population.
- Explicate the concept and criticality of confidence intervals in approximating population parameters.
Verified Answer
SZ
Shirley Zhangabout 17 hours ago
Final Answer :
False
Explanation :
The difference between the sample statistic and the actual value of the population parameter is called the sampling error, not the confidence level. The confidence level refers to the probability that the population parameter will fall within a specified range of values in repeated samples.
Learning Objectives
- Explicate the concept and criticality of confidence intervals in approximating population parameters.
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