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What is the confidence interval for 85 percent?
it would be with a level of significance of 0.15.
What is the relationship between levels of confidence and statistical significance?
The connotation 'statistical significance' takes into account the number of samples as well level of confidence in making a conclusion based on these samples. The level of confidence is typically denoted as 1-alpha (1 minus alpha), where alpha is basically the chance that the reported conclusion will incorrect. The most popular level of confidence is 95%, which coincides with a 5% alpha, meaning that when one makes a conclusion based on a particular sample, there is a 5% chance of a false or incorrect conclusion.
If you have a 99 confidence interval what would your confidence level and alpha for it be?
Confidence level 99%, and alpha = 1%.
What confidence level has become the most used or traditional confidence level among business researchers?
95% confidence level is most popular
Difference between p value and level of significance?
P- value is the probability that the given null hypothesis is true and the level of significance is the chance in a hundred or thousand off occurence of an event i an outcome
