1) What tends to happen to confidence interval widths as a) the sample size incr

Question

1) What tends to happen to confidence interval widths as a) the sample size increases, and b) the degree of confidence increases?

2) Assuming that both use the same sample standard deviation and confidence level, why are confidence intervals from Excel’s CONFIDENCE.NORM function narrower than those from CONFIDENCE.T? Which of the two is better and why?

3) Define p-value.

4) Suppose you look at your output for a test of a single mean and see a t-statistic of -2.5. In a single sentence, describe what the number -2.5 represents.

5) Why would one prefer to have the most serious potential error in hypothesis testing be a Type I error?

Explanation / Answer

1. a. As we know n is used in finding standard error of confidence interval. Now as n is in denominator of standard error, so increases its value decreases the standard error value. So as standard error decreases width of confidence interval also decreases.

b. Now confidence level is used to find z or t based on conditions. As we increase the degree z or t value increases and it results in increasing the width of the confidence interval.

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