In the context of interpreting data,identify the most accurate statement.
A) The confidence interval refers to the range located on the left side of an estimate.
B) The confidence interval is likely to contain the true value for the whole population.
C) The confidence interval is always very narrow.
D) The smaller the sample, the greater the accuracy of estimates from a random sample.
E) With a larger sample, a few unusual responses are more likely to make a big difference.

Question

Quizplus · Accepted Answer

If random selection is used to develop a sample, researchers can use statistical methods to help determine the likely accuracy of the sample value. This is done in terms of confidence intervals-the range on either side of an estimate that is likely to contain the true value for the whole population. Some managers are surprised to learn how wide that range can be.

In the Context of Interpreting Data,identify the Most Accurate Statement