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confidence limits/precision
Message posted by Chris Simien on November 30, 1999 at 12:00 AM (ET)
Perhaps this is a silly question but could someone please clarify for me the difference between a statement about the confidence limits and the stated precision? For example, after pulling a sample you could have a 95% confidence level with 10% precision. What does that mean?
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Re: confidence limits/precision
Message posted by JG on November 30, 1999 at 12:00 AM (ET)
If you coducted a study to find how much time people spend brushing their teeth in the morning and your resulsts stated that the averge time was 70 seconds with 10% precision and 95% confidence, this would mean that the 'true' amout is between 63 and 77 seconds and that 95% of the time this will be a true statement. 5% of the time the true value will be below 63 or above 77.
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