Here are the essential concepts you must grasp in order to answer the question correctly.
Confidence Interval
A confidence interval is a range of values, derived from sample statistics, that is likely to contain the true population parameter. It is expressed as an interval estimate, typically calculated as the sample proportion plus or minus the margin of error. For example, if 57% of respondents reported a positive experience, and the margin of error is ±3.6%, the confidence interval would be from 53.4% to 60.6%.
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Margin of Error
The margin of error quantifies the uncertainty associated with a sample estimate. It indicates the range within which the true population parameter is expected to fall, based on the sample data. In this case, a margin of error of ±3.6% means that the true percentage of U.S. adults with a positive experience could be 3.6% higher or lower than the reported 57%.
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Level of Confidence
The level of confidence reflects the degree of certainty that the confidence interval contains the true population parameter. Common levels of confidence are 90%, 95%, and 99%, with higher levels indicating greater certainty but wider intervals. The level of confidence can be approximated based on the sample size and the margin of error, often using standard normal distribution values.
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