Yes , it ok to use these numbers to calculate a 99%-confidence interval for the percent of all California residents with a college degree.
This will give us 99 percent confidence interval when using the formula with a sample proportion of 18 and a sample size of 60.
The fraction (frequency) of acceptable confidence intervals that contain the true value of the unknown parameter is represented by the confidence level. In other words, the confidence intervals are calculated from an infinite number of independent samples using the chosen confidence level.
As a result, the fraction of the range containing the true value of the parameter equals the confidence level.
Before evaluating the data, the confidence level is usually chosen. The 95% confidence level is the most usually utilised. However, additional confidence levels, such as 90% and 99%, are also employed.
To learn more about confidence intervals
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