**Calculating Critical Value for Confidence Interval**To calculate the critical value \( z_c \) necessary to form a confidence interval at the specified level of confidence, follow the steps outlined below.---**Problem Statement:**Find the critical value \( z_c \) necessary to form a confidence interval at the level of confidence shown below:- \( c = 0.96 \)**Calculation:**\( z_c = \underline{\hspace{3cm}} \)*Note: Please round your answer to two decimal places if necessary.*---**Explanation:**The critical value \( z_c \) can be found using the standard normal distribution table or a statistical calculator that provides the critical z-value for a given confidence level. The confidence level \( c \) denotes the probability that the true parameter lies within the confidence interval. For this problem, \( c = 0.96 \), which means we want to find the z-value where the area under the standard normal curve is 0.96.Use the z-table to find the z-score corresponding to an area of \( \frac{1 + c}{2} \), which would be \( \frac{1 + 0.96}{2} = 0.98 \). Once you locate 0.98 in the z-table, the z-value corresponding to that area is the critical value \( z_c \).

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A First Course in Probability (10th Edition)

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ISBN:9780134753119

Author:Sheldon Ross

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Chapter1: Combinatorial Analysis

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Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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Find the critical value z necessary to form a confidence interval at the level of confidence shown below. c=0.96 Zc = (Round to two decimal places as needed.)