Suppose that a weight loss company advertises that people using its program lose an average of 8 pounds the first month, and that the Federal Trade Commission is gathering evidence to see if this advertising claim is inaccurate. Suppose that a 99% confidence interval for the average weight loss during the first month in the program, in pounds, is (7.92, 7.98), based on a large sample of patrons.
a. How strong is the statistical significance in the claim that on average people in fact lose less than 8 pounds?