Which of the following statements best illustrates the concept of the "level of confidence" or z value chosen in sample size formulae?
A)By setting z at 1.96 it means that the manager could expect,if she conducted the survey many,many times,the value of p would fall within the sample error range 95 percent of the time.
B)By setting z at 1.96 it means that the manager could expect,if she conducted the survey many,many times,the value of p would fall within the sample error range 5 percent of the time.
C)By setting z at 2.58 it means that the manager could expect,if she conducted the survey many,many times,the value of p would fall within the sample error range 95 percent of the time.
D)By setting z at 1.96 it means that the manager could expect,if she conducted the survey many,many times,the value of p would fall within the sample error range 99 percent of the time.
E)By setting z at 2.58 it means that the manager could expect,if she conducted the survey many,many times,the value of p would fall within the sample error range 1 percent of the time.

Question

Quizplus · Accepted Answer

The level of confidence or z value in sample size formulae represents the degree of certainty or level of reliability desired in the results. By setting z at 1.96, the manager is choosing a 95% level of confidence, which means that if the survey was repeated many times, the true population parameter (p) would fall within the sample error range 95% of the time.

Which of the Following Statements Best Illustrates the Concept of the "Level