Tuesday, December 06, 2005
Practical use of statistics course
However, these statistics are only accurate in 19 / 20 cases. That is to say: a single number has been determined from a sample used to estimate the corresponding population parameter involved. Otherwise, one could say that Confidence Level (α-1) = .95, therefore α = .05
That being said: these numbers do contain a sampling error that is calculated from the standard deviation of the sample statistic.