90% Confidence Interval
Definition
A 90% confidence interval is a range of values calculated from sample data that is likely to contain the true value of a population parameter with a 90% level of confidence.
Analogy
Imagine you are playing darts and you want to estimate how close your average throw is to the bullseye. A 90% confidence interval would be like drawing a circle around your average throws so that you can be 90% confident that the true average falls within that circle.
Related terms
Margin of Error: The amount added and subtracted to the point estimate in order to create a confidence interval.
Confidence Level: The probability (expressed as a percentage) that the true population parameter lies within the calculated confidence interval.
Sampling Distribution: The distribution of all possible sample means or proportions from repeated random sampling.
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