Question

What management interpretation would you give for a 95% confidence interval calculated for the mean?

Select one:

a. The sampling process is biased.

b. With an infinite number of samples, there is a 5% chance that the population mean will be outside the interval.

c. 95% of the observations from any sample will fall within the interval.

d. More sampling is required to increase the confidence interval to 100%.

Answer 1

b. With an infinite number of samples, there is a 5% chance that the population mean will be outside the interval.