If the Confidence Level is 99 the Confidence Coefficient for

If the Confidence Level is 99%, the Confidence Coefficient for calculating the confidence interval for the mean is 2.33. T or F? Please show calculations as to why or why not.

Solution

99% confidence interval means, middle area between the lower and upper limits is 99% . That is on both sides area reaming is (1-0.99)/2=0.005.

z-score 2.58 has area 0.005 to its right and z-score -2.58 has area 0.005 to its left. That is area between z-scores -2.58 and 2.58 is 99%. So required critical value is 2.58. Therefore given statement is false.