FAQ: Simulating a Binomial Test - Confidence Intervals

This community-built FAQ covers the “Confidence Intervals” exercise from the lesson “Simulating a Binomial Test”.

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This exercise can be found in the following Codecademy content:

Master Statistics with Python

FAQs on the exercise Confidence Intervals

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I’m confused on a concept here. Is the wording correct?
“We are 95% confident that, if each visitor has a 10% chance of making a purchase, a random sample of 500 visitors will make between 37 and 63 purchases.””

Our confidence interval that we use isn’t our ‘% confidence’ in our result is it? I mean, I know that sounds counter intuitive, but in this lesson we change the CI down to 90% and, our numbers changed as well as the accuracy. But from messing with the percentile range, it doesn’t appear there is as direct a correlation as this text implies. For example, extreme test of setting it to 40,60(20%- the middle quintile), and out of 20 runs, only 2 were not [48, 52](or 90% the same result).

So, what do we mean when we say we have 95% confidence or 90%?