Statistics Essentials For Dummies by Rumsey Deborah

Author:Rumsey, Deborah [Rumsey, Deborah]
Language: eng
Format: epub
Tags: Reference
ISBN: 9780470644539
Publisher: For Dummies
Published: 2010-04-26T21:00:00+00:00

So how do you interpret the 95%? It goes back to the definition of a confidence level. A confidence level is the percentage of all possible samples of size n whose confidence intervals contain the population parameter. When taking many random samples from a population, you know that some samples (in this case 95% of them) will represent the population, and some won't (in this case 5% of them) just by random chance. Random samples that represent the population will result in confidence intervals that contain the population parameter (that is, they are correct); and those that do not represent the population will result in confidence intervals that are not correct.

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