okay so some dork between the ages of 30 and 40 or so responded to an online survey asking how much they need to be happy and said a billion dollars or something like that
+/- 2.9 percentage points not percent. which means it applies to the "72% of millenials say" part, that they're 95% confident that the true proportion of millenials that say so is between 69% and 75%. it does not mean that they're 95% confident that the true average salary needed for millenials to be happy is $526k +/- $16k.
Pretty close but it's actually this https://www.empower.com/the-currency/money/research-financial-happiness
Which I'm sure is extremely reliable and thorough
here's what they say, anyhow:
okay so some dork between the ages of 30 and 40 or so responded to an online survey asking how much they need to be happy and said a billion dollars or something like that
plausible yea
real
If the paragraph is true, then no. The 95% CI with +/- 2.9% means the data isn't heavily skewed by a few outliers.
+/- 2.9 percentage points not percent. which means it applies to the "72% of millenials say" part, that they're 95% confident that the true proportion of millenials that say so is between 69% and 75%. it does not mean that they're 95% confident that the true average salary needed for millenials to be happy is $526k +/- $16k.
Ah, I think you're right. I read that very poorly, boo.
Sorry team, thanks for the correction.