Question
The statement "results are accurate within +/-4 p.p.,
95% of the time" refers respectively to:Solution
A confidence interval is a range of values that is likely to contain an unknown population parameter. If you draw a random sample many times, a certain percentage of the confidence intervals will contain the population mean. This percentage is the confidence level. In the above statement, 95% represents the confidence level which means that it can be said with 95% certainty that the confidence interval (here +/- 4pp) calculated contains the true population mean.
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