Holding the width of a confidence interval fixed, increasing the level of confidence can be achieved with a lower sample size.
Indicate whether the statement is true or false
Question 2
You were told that the amount of time lapsed between consecutive trades on the New York Stock Exchange followed a normal distribution with a mean of 15 seconds. You were also told that the probability that the time lapsed between two consecutive trades to fall between 16 to 17 seconds was 13. The probability that the time lapsed between two consecutive trades would fall below 13 seconds was 7. The middle 86 of the time lapsed will fall between which two numbers?
What will be an ideal response?
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