What is the difference between the confidence interval and margin of error?
1 Answer
The margin of error is how far from the estimate we think the true value might be (in either direction).
The confidence interval is
Explanation:
You might hear people say things like:
"It'll be an hour, give or take 10 minutes."
Or perhaps,
"His approval rating was 59 percent, plus or minus 3 percentage points."
These phrases, "give or take" and "plus or minus", indicate a margin of error (or
The confidence interval gives us the actual low and high limits of the estimate at a given significance level
50 minutes to 1 hour, 10 minutes
and
56 percent to 62 percent.
Notice the use of "at a given significance level
The value of