As we prepare to take a sample and compute a 95% confidence level,we know that t

Question

As we prepare to take a sample and compute a 95% confidence level,we know that the probability that the interval we compute willcover the parameter is 0.95. If we use several such intervals,however, our confidence that all of them givecorrect results is less than 95%. Suppose we take independentsamples each month for five months and report a 95% confidencelevel for each set of data.

(a) what is the probability that all 5 intervals cover the truemean?

- 0.95^5=0.7738

(b) what is the probability that at least four of the fiveintervals cover the true means?

- DON'T KNOW HOW TO DETERMINE???

Explanation / Answer

Wrong the answer is 0.9974

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