Descriptive Statistics Interpretation of Numbers

Question

I noticed that when I do Descriptive Statistics on Excel, I get a numerical value for the confidence level of 90%, 95%, 99%, and so on. I also noticed that the number for the confidence level goes up for higher confidence level. 

 

How do I interpret these numbers for the confidence levels? In other words, what do these numbers mean in every day language?

 

 

Thank you in advance for answering this question. 

Answer 1

A 95% confidence interval indicates that you have confidence that 95% of the time the population mean value will fall in that range of numbers.  You can substitute 90% or 99% for the 95 above

 

The range gets wider with a higher confidence level, because it provides a "bigger net" for capturing the potential population mean.  Higher confidence levels means that you are not willing to be wrong very often.