Quantitative concepts

1 null terms

Confidence Intervals

A confidence interval is how much uncertainty there is with any particular statistic. Confidence intervals are often used with a margin of error. It tells you how confident you can be that the results from a poll or survey reflect what you would expect to find if it were possible to survey the entire population. If one were to generate an unlimited number of samples of (in this case) 5 observations and calculate the 95% confidence interval for each sample, 95% of these intervals would actually contain the true population value.