Based on a sample of repair records, an engineer calculates a 95% confidence interval for the mean cost to repair a fiber-optic component to be ($140, $160). A supervisor summarizes this result in a report, saying,“We are 95% confident that the mean cost of repairs is less than $160.” Is the supervisor underestimating the confidence, overestimating it, or getting it right? Explain.
What will be an ideal response?
The supervisor is underestimating the confidence. The statement that the mean cost is less than $160 is aone¬sided upper confidence bound with confidence level 97.5%.
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