Problem

Find the critical value $z_{\alpha / 2}$ needed to construct a confidence interval with level $86 \%$.
Round the answer to two decimal places.

Answer

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Answer

\(\boxed{1.48}\) is the final answer.

Steps

Step 1 :Given a confidence level of $86 \%$, this leaves $14 \%$ of the data in the tails of the distribution. This $14 \%$ is split evenly between the two tails, so we have $7 \%$ in each tail.

Step 2 :The value of $\alpha$ is the area in the tails, so $\alpha = 0.14$. Therefore, $\alpha / 2 = 0.07$.

Step 3 :We want to find the $z$-score that leaves an area of $0.07$ in the upper tail of the standard normal distribution.

Step 4 :We can use the standard normal distribution table or a calculator with a function for the standard normal distribution to find this $z$-score.

Step 5 :Looking up $1 - 0.07 = 0.93$ in the standard normal distribution table, we find a $z$-score of approximately $1.48$.

Step 6 :Therefore, the critical value $z_{\alpha / 2}$ needed to construct a confidence interval with level $86 \%$ is approximately $1.48$.

Step 7 :Checking our result, we see that a $z$-score of $1.48$ does indeed leave an area of $0.07$ in the upper tail of the standard normal distribution, so our result meets the requirements of the problem.

Step 8 :So, the critical value $z_{\alpha / 2}$ needed to construct a confidence interval with level $86 \%$ is approximately $1.48$ (rounded to two decimal places).

Step 9 :\(\boxed{1.48}\) is the final answer.

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