Question

why shouldn't you calculate a confidence interval with a very high confidence level, such as 99,99 percent?

Answer 1

I'm not confident enough to answer this question

Answer 2

Because the higher the confidence level, the more precise the estimate, which requires significantly increasing the confidence interval.

Answer 3

Confidence levels are typically set at 95% to reduce the margin of error while still promoting some sort of precise, meaningful statement.

Answer 4

For example, if some poll you read stated that: "This candidate will get 60% of the vote, with a 30% margin of error...," the statement may be 99.99999% precise because it is actually saying, "this candidate will get anywhere from 30% to 90% of the vote." That's pretty likely, assuming the candidate is reasonably likeable by voters. However, the statement is pretty meaningless because of the wide interval.

Answer 5

thanks ;)

Answer 6

:)