Question

Hint: 95% confidence interval means 5% is split between the two tails (2.5% each). So you are finding invNorm using 97.5% (95% + 2.5%). μ=0μ=0 and σ=1σ=1

Use the invNorm function, find the following values:
a) For a 90% confidence interval, z⋆z⋆ =
b) For a 95% confidence interval, z⋆z⋆ =
c) For a 99% confidence interval, z⋆z⋆ =

Answer 1

Ans:

a) For a 90% confidence interval,

z*=invNorm(0.95,0,1)=1.645

b) For a 95% confidence interval,

z*=invNorm(0.975,0,1)=1.960

c) For a 99% confidence interval,

z*=invNorm(0.995,0,1)=2.576