Question

Which of the following would be the best interpretation of 99% confidence? If we were to take 100 samples, then approximately 95 would contain the true value of the mean and approximately 5 would not. If we were to take 100 samples, then approximately 99 would contain the true value of the mean and approximately 1 would not. If we were to take 100 samples, then exactly 99 would contain the true value of the mean and 1 would not. There is a 99% probability that the confidence interval contains the true value of the mean. None of the above.

Answer 1

The best interpretation of 99% confidence is that there is a 99% probability that the confidence interval contains the true value of the mean.

Step-by-step explanation:

The best interpretation of 99% confidence is that if we were to take 100 samples, approximately 99 would contain the true value of the mean and approximately 1 would not. This means that there is a 99% probability that the confidence interval contains the true value of the mean.

Answer 2

Answer: There is a 99% probability that the confidence interval contains the true value of the mean.

Step-by-step explanation:

• The correct interpretation of x% confidence interval is that we are x% confident that the true population mean falls in it.

i.e. There is a x% probability that the confidence interval contains the true value of the mean.

Similarly, the correct interpretation for 99% confidence interval will be :

There is a 99% probability that the confidence interval contains the true value of the mean.