Confidence Interval


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Confidence Interval - short version

(1) A random interval constructed from data in such a way that the probability that the interval contains the true value of the parameter can be specified before the data are collected. An interval computed from sample values. Intervals so constructed will straddle the estimated parameter a certain percentage of the time in repeated sampling.

(2) A confidence interval is a rabge of values. calculated from a data set, that gives us an assigned probability that the true value lies within that range.



 



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