What are confidence levels in statistics?
An example of an AI chatbot conversation about understanding confidence levels in statistics.
What are confidence levels in statistics?
Confidence levels represent the degree of certainty in statistical estimates, often expressed as a percentage.
Can you explain how to calculate a confidence level?
To calculate a confidence level, you typically use the formula: Confidence Level = 1 - α, where α is the significance level.
What is a common confidence level used in research?
A common confidence level used in research is 95%, which indicates that if the same study were repeated, 95% of the time the results would fall within the confidence interval.
How does sample size affect confidence levels?
Larger sample sizes generally lead to narrower confidence intervals, increasing the precision of the estimate.
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