Final Answer:
The confidence interval is approximately ±0.17 when considering a 95% confidence level.
Step-by-step explanation:
The margin of error, often denoted as E, represents the range within which the true population parameter is likely to lie. In this case, with a 95% confidence level, we are expressing our certainty that the parameter falls within the interval of ±0.17.
When constructing a confidence interval, statisticians use the margin of error to determine the range around a sample estimate. The ± symbol indicates the upper and lower bounds of this interval. A 95% confidence level implies that if we were to conduct the same sampling procedure numerous times, the true parameter would fall within our calculated interval 95% of the time.
In practical terms, if you have a sample mean or proportion and you want to estimate the range where the true population mean or proportion likely resides, you would add and subtract the margin of error from your sample estimate. In this instance, it would be ±0.17, providing a level of confidence that captures the variability inherent in statistical sampling.