Question

we see an example of the confidence interval in political pooling, marketing and in other policies....

we see an example of the confidence interval in political pooling, marketing and in other policies. give an example of how this concept with affect your life.

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Answer #1

Suppose, you are calculating confidence interval of annual profit in a particular business, selling of bikes. Now, suppose, a e manager of the bike selling shop you found out 95% confidence interval of annual profit and see that it is very negligible compared to the amount of hassle you are putting. If this situation continues for a long time, you may think closing this business and invest your money somewhere else. So, here the confidence interval is changing your professional career.

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