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Unformatted text preview: 0.5 b. confidence cooefficient 0.95 level of significance 0.05 z value 1.96 standard err 0.01507 6 margin of error 0.02954 8 c. point estimate 0.5 lower limit 0.47045 2 upper limit 0.52954 8 d. This tells that it is cheaper to replace an hourly paid employee. Write a paragraph about confidence intervals. In the paragraph describe their parts and discuss their purpose. Confidence interval is an estimate of a population parameter that provides an interval believed to contain the value of the parameter. For the interval estimates, it has the form: point estimate +/- margin of error. Another name for confidence interval is interval estimate....
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This note was uploaded on 10/10/2010 for the course ACCT 225 S taught by Professor Webster during the Spring '10 term at Franklin.
- Spring '10