Asked by Bobby Gallimore on May 08, 2024
Verified
If you wish to construct 98% upper confidence bound (UCB) for the difference between population proportions, then the approximate z-value you should use is:
A) 2.33
B) 2.05
C) 1.96
D) 1.65
E) 1.41
Upper Confidence Bound
The upper limit of a confidence interval, indicating the maximum value within which a population parameter is expected to lie with a certain probability.
Population Proportions
The ratio of members in a population that have a particular attribute to the total number of members in the population.
Z-Value
A measure that describes how far a data point is from the mean, expressed in standard deviations.
- Differentiate between the upper and lower confidence limits and determine the correct z-value corresponding to specified confidence intervals.
Verified Answer
SA
SUKHMANDEEP AULAKHMay 12, 2024
Final Answer :
B
Explanation :
For a 98% confidence level, the z-value closest to the upper tail of the standard normal distribution is approximately 2.05. This value is used to calculate the margin of error for the confidence interval.
Learning Objectives
- Differentiate between the upper and lower confidence limits and determine the correct z-value corresponding to specified confidence intervals.