confidence intervals explained
A 95% confidence interval for the standard normal distribution, then, is the interval (-1.96, 1.96), since 95% of the area under the curve falls within this interval.
What is meant by the 95% confidence interval of the mean?
The 95% confidence interval defines a range of values that you can be 95% certain contains the population mean.
With large samples, you know that mean with much more precision than you do with a small sample, so the confidence interval is quite narrow when computed from a large sample.
What does 99% confidence mean in a 99% confidence interval?
A 99% confidence interval will allow you to be more confident that the true value in the population is represented in the interval.
However, it gives a wider interval than a 95% confidence interval.
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