For a 99% confidence interval for
μ based on a simple random sample.
Part (a):
Is it correct to say that
the probability that μ is in the specified interval is 99%?
Explain.
No. The probability that μ falls inside the interval is 0 or 1.
Rather we say that we are 99% confident that μ will fall inside the interval.
Part B:
Is it correct to say that in the long run, if you computed many,
many confidence intervals using the prescribed method, about 99% of
such intervals would contain μ?
Yes. 99% of intervals constructed using this method will capture
the population mean μ.
