Answer:
980 intervals.
Step-by-step explanation:
For each interval, there are only two possible outcomes. Either it captures the population mean, or it does not. One interval is independent of other intervals. So we use the binomial probability distribution to solve this question.
Binomial probability distribution
Probability of exactly x sucesses on n repeated trials, with p probability.
The expected value of the binomial distribution is:
[tex]E(X) = np[/tex]
98% confidence interval
Has a 98% probability of capturing the population mean, so [tex]p = 0.98[/tex]
1000 intervals
This means that [tex]n = 1000[/tex]
How many of these 1000 intervals do you expect to capture the corresponding value of μ?
[tex]E(X) = np = 1000*0.98 = 980[/tex]
980 intervals.