Question 567524: In the formula for the Confidence Interval for the Mean, if the Confidence Coefficient, z(α/2) = 2.58, what is the Confidence Level?
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! In the formula for the Confidence Interval for the Mean, if the Confidence Coefficient, z(α/2) = 2.58, what is the Confidence Level?
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Draw a normal curve where the horizontal axis is the z-values.
Plot z = 2.58
Find the area to the right of 2.58
normalcdf(2.58,100) = 0.0049
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Then alpha = 2(0.0049) = 0.0099
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So, 1% is in the two tails.
So the confidence level is 99%
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Cheers,
Stan H.
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