What does a 95% confidence interval versus a 99% confidence interval tell you?
1 Answer
Nov 2, 2015
Reliability of the answer in terms of the range of values of the parameter being discussed.
Explanation:
As the name suggests, 95% confidence interval means, there is a 5% chance of the suggested answer not accurate.
99% confidence interval suggests there is a 1% chance of the suggested answer not accurate.