Confidence levels

• What is a confidence level?


  The probability that the research findings are CORRECT
• What is a confidence interval?


  The possible range of outcomes for a given confidence level

  
  

  E.g 90% confidence that sales will be between £3m and £4m (interval)
• Confidence interval are AKA?


  Margin of error
• Sampling helps give an insight into.....


  The target population as a whole
• Market ______ findings have a _________ level that gives an indication of how likely the result is to be ______.


  Research, confidence, accurate
• What factors will a degree of confidence depend on?


  -Size of sample (larger sample better chance findings reflect population)

  -How sample was constructed (e.g if ppl were selected randomly)

  -Margin of error/ confidence interval (bigger the interval the more confident researchers will be)
• The more precise the prediction needs to be the_______ certain results will be.


  Less
• For any research the higher the confidence level required the _______ the confidence interval will be.


  Wider