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Determine the critical value za/2 that corresponds to 92% level of confidence. Round answer to thousandths place. Za/2 =

Determine the critical value za/2 that corresponds to 92% level of confidence. Round answer to thousandths place. Za/2 =

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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**Determine the Critical Value for 92% Confidence Level** To find the critical value \( z_{\alpha/2} \) that corresponds to a 92% confidence level, follow these steps: 1. **Understand Confidence Level**: A 92% confidence level implies that the remaining area in the tails of the standard normal distribution is 8% (i.e., \( 1 - 0.92 = 0.08 \)). This area is split equally between the two tails, so each tail has an area of 0.04. 2. **Find \( z_{\alpha/2} \)**: - Use a standard normal distribution (Z-table) to find the Z-score that marks the point where the cumulative probability is \( 1 - 0.04 = 0.96 \). - Alternatively, you can use statistical software or a calculator with an inverse normal function to find this value. 3. **Round the Result**: Round your answer to the thousandths place. **Answer Box**: \[ z_{\alpha/2} = \] This process will enable you to determine the critical value necessary for constructing confidence intervals or hypothesis tests using a 92% confidence level.
Transcribed Image Text:**Determine the Critical Value for 92% Confidence Level** To find the critical value \( z_{\alpha/2} \) that corresponds to a 92% confidence level, follow these steps: 1. **Understand Confidence Level**: A 92% confidence level implies that the remaining area in the tails of the standard normal distribution is 8% (i.e., \( 1 - 0.92 = 0.08 \)). This area is split equally between the two tails, so each tail has an area of 0.04. 2. **Find \( z_{\alpha/2} \)**: - Use a standard normal distribution (Z-table) to find the Z-score that marks the point where the cumulative probability is \( 1 - 0.04 = 0.96 \). - Alternatively, you can use statistical software or a calculator with an inverse normal function to find this value. 3. **Round the Result**: Round your answer to the thousandths place. **Answer Box**: \[ z_{\alpha/2} = \] This process will enable you to determine the critical value necessary for constructing confidence intervals or hypothesis tests using a 92% confidence level.
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