A99% confidence interval estimate can be interpreted to mean that: a) if all possible sample sizes of n are taken and confidence interval estimates are developed, 99% of them would include the true population mean somewhere within their interval. b) we have 99% confidence that we have selected a sample whose interval does include the population mean. c) both of the above. d) none of the above.
The correct option is C) Both of the above.
Consider the provided statement.
First understand the meaning of Confidence level.
Confidence level refers to the percentage of likelihood, or assurance, that when you draw a random sample several times, the confidence interval will contain the true population variable.
99% confidence means We are 99% sure that most of these confidence intervals contain the true parameter of the population.
Therefore, both the statement are correct.
Hence, the correct option is C) Both of the above.
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