The precision interval has a ____ percent probability of including the ____.
A) sampling risk; adjusted sample estimate
B) sampling risk; true population value
C) 1 minus sampling risk; adjusted sample estimate
D) 1 minus sampling risk; true population value

Question

Quizplus · Accepted Answer

The precision interval (also known as a confidence interval) is constructed to estimate an unknown population parameter with a certain degree of confidence. The sampling risk is the risk that the sample estimate differs from the population parameter due to chance. Therefore, the precision interval has a 1 minus sampling risk (or confidence level) probability of including the true population value. This is the correct interpretation of a precision interval in statistics.

The Precision Interval Has a ____ Percent Probability of Including