Florida International University

Business Statistics - STA 2023

Ms. Laura Reisert Instructor

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Chapter 6 Supplelmentary Exercises

1. A 95% confidence interval for m is calculated to be (20, 30). What do we mean when we say:
   
   "We're 95% confident that m is between 20 and 30"
    -or-
   "The believable values for m at the 95% confidence level are 20-30"
    ???
   
   Are any of the following correct interpretations of the above statements?
   

   1. The probability that m lies in the interval (20, 30) is .95
   2. In repeated sampling, 95% of the intervals constructed in this manner will contain the interval (20, 30)
   3. In repeated sampling, m will lie in the interval (20, 30) 95% of the time.
   4. In repeated sampling, 95% of the intervals constructed in this manner will contain m .