In a classical variables sampling application,the precision interval has a (1 minus the risk of incorrect acceptance)probability of including the true population value.

Question

Quizplus · Accepted Answer

The precision interval in classical variables sampling is constructed in such a way that it has a certain level of confidence or probability of including the true population value. This probability is equal to 1 minus the risk of incorrect acceptance, which is also known as the level of significance or alpha level. Therefore, the statement in the question is true.

In a Classical Variables Sampling Application,the Precision Interval Has a (1