What is a confidence interval and how do I interpret it?
An example of an AI chatbot conversation about confidence interval interpretation.
What is a confidence interval and how do I interpret it?
A confidence interval is a range of values that estimates a population parameter. It gives you an idea of how uncertain you are about that estimate.
Can you give me an example of how to calculate a confidence interval?
Sure! If you have a sample mean of 50, a standard deviation of 10, and a sample size of 30, you can calculate a 95% confidence interval using the formula: mean ± (Z * (SD/√n)). For a 95% CI, Z is approximately 1.96.
What does it mean if my confidence interval is very wide?
A wide confidence interval indicates a high level of uncertainty about the estimate. It may suggest that your sample size is too small or that there is a lot of variability in your data.
How can I reduce the width of my confidence interval?
You can reduce the width by increasing your sample size or by decreasing the variability in your data.
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