A researcher plans to use a random sample of n=500 families to estimate the mean monthly family income for a large population. A 99% confidence interval based on the sample would be than a 90% confidence interval. O narrower and would involve a larger risk of being incorrect O wider and would involve a smaller risk of being incorrect wider and would involve a larger risk of being incorrect O wider, but it cannot be determined whether the risk of being incorrect would be larger or smaller O narrower and would involve a smaller risk of being incorrect

MATLAB: An Introduction with Applications
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A researcher plans to use a random sample of n=500 families to estimate the mean monthly family income for a large population. A 99% confidence interval based
on the sample would be
than a 90% confidence interval.
narrower and would involve a larger risk of being incorrect
wider and would involve a smaller risk of being incorrect
wider and would involve a larger risk of being incorrect
wider, but it cannot be determined whether the risk of being incorrect would be larger or smaller
narrower and would involve a smaller risk of being incorrect
Transcribed Image Text:A researcher plans to use a random sample of n=500 families to estimate the mean monthly family income for a large population. A 99% confidence interval based on the sample would be than a 90% confidence interval. narrower and would involve a larger risk of being incorrect wider and would involve a smaller risk of being incorrect wider and would involve a larger risk of being incorrect wider, but it cannot be determined whether the risk of being incorrect would be larger or smaller narrower and would involve a smaller risk of being incorrect
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Researcher plans to use N = 500 families

We have to do comprasion between 99% confidence interval and 90% confidence interval.

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