Which one of the following statements is correct with respect to 95% confidence interval of the estimated mean from a set of observations?

1
They are limits between which, in the long run, 95% of observations fall.
2
They are a way of measuring the precision of the estimate of the mean.
3
They are limits within which, the sample mean falls with probability 0.95.
4
They are a way of measuring the variability of a set of observations.

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