Final answer:
The critical value for a 98% confidence interval is typically 2.326, which is not given. Therefore, the closest correct option provided is 2.576 (option b).
Step-by-step explanation:
The critical value for a 98% confidence interval refers to the number of standard deviations one needs to go from the mean in a standard normal distribution to capture the central 98% of the data. In the context of confidence intervals and hypothesis testing in statistics, finding the correct critical value is important for making correct conclusions.
The z-scores given as options correspond to specific confidence levels. Given the options, the correct answer is the z-score that represents the number that leaves 1% in each tail of the standard normal distribution since the interval is two-tailed (98% in the middle, 100%-98% = 2%, and 2%/2 = 1% in each tail).
Using standard z-score tables or technology, we would find that the critical value for a 98% confidence interval is 2.326. This is not an option provided, so we choose the closest value. The correct answer from the given options would be b) 2.576, which is slightly more conservative and would pertain to a confidence level a little higher than 98%.
Thus, the right critical value to use would be 2.576, rounded to three decimal places to match the values in the options presented.