Uncover the relationship between confidence levels and interval widths. Grasp how the range of confidence intervals broadens with increasing confidence. Understand the trade-offs in statistical certainty and estimation.
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Questions & Answers
For the same sample statistics, which level of confidence would produce the widest confidence interval? Explain your reasoning.
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Confidence intervals are a range of values derived from a procedure that estimates the true population parameter. The level of confidence tells us the probability that the range of values contains the true population parameter. The higher the confidence level, the more likely it is that our interval contains the true parameter.
However, there is a trade-off. As the level of confidence increases, the range of the confidence interval also increases.