Concept explainers
To explain: The effect of increase in confidence level on the confidence level.
Answer to Problem 8PT3
The confidence interval would be wider and less precise.
Explanation of Solution
Given:
Confidence level = 95%
Confidence interval = (1010, 1321)
The increase in confidence level leads the increase in width of the confidence interval and provides the less precision about the population parameter.
So, if the 98% confidence interval instead of 95% is used then the confidence interval would be wider and interval would be more precise because there would be more possibility for the population mean.
The correct option is (a).
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