A confidence interval does not quantify variability. A 95% confidence interval is a range of values that you can be 95% certain contains the true mean of the population. This is not the same as a range that contains 95% of the values.
Subsequently, one may also ask, what is the meaning of confidence level in statistics?
A confidence level refers to the percentage of all possible samples that can be expected to include the true population parameter. For example, suppose all possible samples were selected from the same population, and a confidence interval were computed for each sample.
What is the confidence level in stats?
In statistics, a confidence interval (CI) is a type of interval estimate, computed from the statistics of the observed data, that might contain the true value of an unknown population parameter. Most commonly, the 95% confidence level is used.
What is a 95% confidence limit?
Confidence limits are the numbers at the upper and lower end of a confidence interval; for example, if your mean is 7.4 with confidence limits of 5.4 and 9.4, your confidence interval is 5.4 to 9.4. Most people use 95% confidence limits, although you could use other values.