Nothing is for certain What are acceptable confidence levels

Nothing is for certain. What are acceptable confidence levels for things like your car starting or your paycheck showing up on time? How about the pharmacist giving you the correct medicine? Note: Your initial post has to be 100+ words and you are to make 2 response posts to your classmates.

Solution

CONFIDENCE INTERVAL TELLS ABOUT THE RANGE THAT THE VALUEOF PARAMETER LIES WITHIN IT WITH CERTAIN PROBABILITY. THE CASES GIVEN ABOVE LIKE CAR STARTING, PAY CHECK SHOWING ON TIME AND PHARMIST GIVING CORRECT MEDICINE ARE THE SITUATION WHICH DEPEND ON DIFFERENT PERSON NOT ON US, THESE SITUATION ARE EITHER MATERALISTIC OR SITUATION BASED AND TO DETERMINE THE PROBABILITY WE HAVE TO TAKE THE CASES LIKE MARKING IT FOR DIFFERENT DAYS. HOW THE SITUATION WAS REACTING ON DIFFERENT DAY AND NOTE THEM DOWN WILL GIVE US THE IDEA TO DETERMINE THE CONFIFENCE INTERVAL. FOR SITUATIONS WHICH ARE NOT DEPENDENT ON US ARE GOOD TO GO WITH THE CONFIDENCE INTERVAL OF 90% AND THOSE SITUATION WHICH DEPEND ON OURS REACTION CAN BE USE OF 99%.

HENCE IN THESE 90% IS GOOD TO GO.