To ?nd µ, the average tra?c waiting time in a city I randomly sampled 40 spots. The 95% CI for average waiting time for my sample is (1.5, 2.1). Find out which of the following statements are TRUE/FALSE.
1. In our sample 95% of all waiting times lie between 1.5 and 2.1.
2. If we repeat this whole experiment many times, around 95% of all sample average waiting times (i.e. ¯
X) will be between 1.5 and 2.1.
3. If we repeat this whole experiment many times, for almost 95% of all samples, µ will be between 1.5 and 2.1.
4. If we repeat this whole experiment many times, for almost 95% of all samples, µ will be included in the corresponding con?dence intervals.
5. If we repeat this whole experiment many times, the formula for the CI that we are using, catches the sample average waiting time almost 95% of times.
