Confidence and Significance Levels. . .
The confidence level is the proportion of times that an
estimating procedure will be correct.
E.g. a confidence level of 95% means that, estimates
based on this form of statistical inference will be correct
95% of the time.
When the purpose of the statistical inference is to draw
a conclusion about a population, the significance level
measures how frequently the conclusion will be wrong in
the long run.
E.g. a 5% significance level means that, in the long run,
this type of conclusion will be wrong 5% of the time.