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In order to test whether the average waiting time this year differs from last year, a sample of 25 data were collected this year with a mean of 0.74 hours and standard deviation 0.22 hours. The 99% confidence interval for banking service this year has a wider range than 95% confidence interval for banking service this year.

a.False
b.True

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Answer:

True

Step-by-step explanation:

Confidence interval for banking service in a given confidence level can be calculated as  M±ME where

  • M is the mean banking service in the sample and
  • ME is the Margin of Error

margin of error (ME) is calculated using the formula

ME=[tex]\frac{t*s}{\sqrt{N} }[/tex] where

  • t is the corresponding statistic in the given confidence level
  • s is the standard deviation of the sample(or of the population if it is known)
  • N is the sample size

t-statistic for 99% confidence level is always bigger than 95% confidence level which makes Margin of Error bigger and thus confidence interval wider.

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