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 refers to the number of standard deviations from the mean that are included in the confidence interval. By setting z at 1.96 (which corresponds to a 95% confidence level), it means that there is a 95% chance that the value of p falls within the sample error range. This is the best choice because it accurately reflects the concept of the level of confidence and how it is used in sample size formulae.

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