3.

Discuss on a concise and organized manner the applicability and limitations of different
statistical parameters in assessing accuracy and precision.
4. Elaborate on the confidence interval and its purpose. Enumerate factors affecting the range
of the confidence interval.
By using a specific confidence level and data gathered from a sample, a specific interval
estimate of a parameter may be obtained, called the confidence interval. The most commonly
used confidence intervals are 90, 95, and 99%.
Factors affecting the confidence interval include confidence level, sample size, standard
deviation. The confidence level is a measure of the likelihood of the data gathered from the
sample reflecting the true values of the population. A higher confidence level implies that the
confidence interval is wider, thus the probability that the data is in the confidence interval is
higher.