What is the confidence coefficient when the level of significance is 0.03?Group of answer choices0.97000.03760.79240.7776

1. Break Down the Problem

We need to find the confidence coefficient corresponding to a level of significance (α) of 0.03. The confidence coefficient can be calculated using the formula:

$\text{Confidence Coefficient} = 1 - \alpha$

2. Relevant Concepts

In this scenario, the level of significance (α) is the probability of rejecting the null hypothesis when it is true. The confidence coefficient represents the proportion of the distribution that is not in the tails, and reflects the likelihood that the parameter lies within the confidence interval.

3. Analysis and Detail

Given:

• Level of significance, $\alpha = 0.03$

Calculating the confidence coefficient:

$\text{Confidence Coefficient} = 1 - \alpha = 1 - 0.03 = 0.97$

4. Verify and Summarize

The calculation shows that the confidence coefficient corresponding to a significance level of 0.03 is 0.97.

Final Answer

The confidence coefficient when the level of significance is 0.03 is 0.97.