What is the difference between the confidence interval and margin of error?
The margin of error is how far from the estimate we think the true value might be (in either direction).
The confidence interval is
You might hear people say things like:
"It'll be an hour, give or take 10 minutes."
"His approval rating was 59 percent, plus or minus 3 percentage points."
These phrases, "give or take" and "plus or minus", indicate a margin of error (or
The confidence interval gives us the actual low and high limits of the estimate at a given significance level
50 minutes to 1 hour, 10 minutes
56 percent to 62 percent.
Notice the use of "at a given significance level
The value of