stat help
can someone explain the basics of confidence interval? im completely lost on it.
is this a correct explanation of "the margin of error is +/-4%"?: the poll's result is expected to be within 4% of the actual population parameter
and what does this mean? (from here)
A 90% confidence level means that we would expect 90% of the interval estimates to include the population parameter;
A 95% confidence level means that 95% of the intervals would include the parameter; and so on.i dont get it, since the population parameter is just 1 value. if i say 95% CI is 80%+/-5%, i think of it as being one point on a number line from 75% to 85%
however, it also says on the site:
Consider the following confidence interval: We are 90% confident that the population mean is greater than 100 and less than 200.
Some people think this means there is a 90% chance that the population mean falls between 100 and 200. This is incorrect.Visit Calccrypto for info on crypto
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