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. The width of confidence interval decreases when increasing the sample size, because it decreases the standard error. While when the degree of confidence increases , confidence level increases, and increases the error bound and makes confidence interval more wider.

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