As the standard error decreases, a width of the confidence intervals narrows with sample size becomes larger.
What is confidence interval?
A degree of uncertainty as well as surety in a sampling method is measured by confidence intervals.
Some key features regarding the confidence interval are-
- They can use any amount of probability limits, to 95% or 99% being the most common.
- Statistical methods, like the t-test, are used to compute confidence intervals.
- Confidence intervals are used by statisticians to quantify uncertainty together in sample variable.
- A researcher, for example, may randomly select different samples of the same population & compute a confidence interval by each sample to determine how well it may accurately reflect the true value of population variable.
- A resulting datasets all are unique; some intervals contain a true population parameter while others do not.
- A confidence interval is a set of values bounded above & below the mean of a statistic that are likely to include an unidentified population parameter.
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