Suppose that a friend of yours says that they were reading about confidence intervals and ask you the following questions: Part 1 When they encountered the symbols pand p. "What's the difference between what these symbols represent, and what does that have to do with confidence intervals?" (make sure you answer both parts of the question). Part 2 Why do we not usually use 99.99% confidence level when constructing a confidence interval?

MATLAB: An Introduction with Applications
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Author:Amos Gilat
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Chapter1: Starting With Matlab
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Suppose that a friend of yours says that they were
reading about confidence intervals and ask you the
following questions:
Part 1
When they encountered the symbols pand p. "What's
the difference between what these symbols represent,
and what does that have to do with confidence
intervals?" (make sure you answer both parts of the
question).
Part 2
Why do we not usually use 99.99% confidence level
when constructing a confidence interval?
Transcribed Image Text:Suppose that a friend of yours says that they were reading about confidence intervals and ask you the following questions: Part 1 When they encountered the symbols pand p. "What's the difference between what these symbols represent, and what does that have to do with confidence intervals?" (make sure you answer both parts of the question). Part 2 Why do we not usually use 99.99% confidence level when constructing a confidence interval?
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