CONFIDENCE INTERVALS

Question 1

What are confidence intervals

Answer 1

An estimate of the level of accuracy of the data derived from sampling.

For example: A sample of 1,000 customers may indicate that 83% are prepared to pay up to £50 for the product.

Question 3

What do narrower confidence levels represent

Answer 3

A narrower confidence level represents a lower margin of error within the sample, and therefore more accurate data.

Question 4

What influences the confidence levels

Answer 4

Sample size

accuracy

Population size