Could anyone please explain why we expect 95%, or 950, of these intervals to include the unknown value of the population mean.?
or in other words, could anyone please explain PROBABILISTIC INTERPRETATION OF CONFIDENCE INTERVAL?
It comes from the central limit theorem.
This is saying that if we take lots of samples of a population then the
Distribution of SAMPLE means will have
mean = population mean with a standard deviation = standard error.x
So the for any particular sample mean we would expect to fall within for 95% confidence
A Sample mean in range : Pop, mean +/- 1.96 (z value for 95% range) x standard error
Turning that round if I have particular Sample mean
I can get you a range that I would expect to find the population mean
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Thank you so much!