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Objective:This section will explain the meaning of the Confidence Interval (CI) in statistical analysis.
The CI states that with 92% confidence, the proportion of all similar companies with the plan will between 46% and 56%.
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I have a MS in Mathematics and I have taught Mathematics for 10 years at the college level.

BS mathematics, MS biostatistics, 35+ yrs designing & analyzing biological experiments.
Often, statistics are not expressed in terms of one number but rather as a range or an interval with a given level of confidence. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.
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For proportions, the normal distribution approximates the binomial for n x P(hat) is greater than or equal to 5.Most common confidence interval selections are 90%, 95%, or 99% but are dependent on the voice of the customer, your company, project, and other factors.
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The larger your sample size, the more confidence one can be that their answers represent the population. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles.
JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals. If the sample is not then one cannot rely on the confidence intervals calculated, because you can no longer rely on the measures of central tendency and dispersion.Sampling plans are an important step to ensure the data taken within is reflective and meaningful to represent the population.
Click here for information regarding sampling plans.PercentageThe accuracy of the CI also depends on the percentage of your sample that picks a particular answer. It is easier to be sure of extreme answers than those aren't, thus the interval is not linear.

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Comments Confidence interval for 1.5 standard deviations

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