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Why is the 95% confidence interval used so often? Why isn’t 99% or a different level...

Why is the 95% confidence interval used so often? Why isn’t 99% or a different level used more frequently? What happens to the width of the interval as the confidence level increases?

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Answer #1

95% confidence level ensures data within 2 standard deviations about the mean. which is usual by empirical rule, so we use 95

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