confidence interval
We are ___% confident that the interval from ___ to ___ captures the true (parameter in context).
A confidence interval is a statistical range of values that indicates the likely range of a population parameter based on a given sample of data. In other words, it is an estimation of a range of values that is likely to contain the true population parameter with a certain degree of confidence.
Confidence intervals are often used in hypothesis testing and statistical analysis to help researchers determine whether there is a significant difference between two groups or variables. By calculating a confidence interval, researchers can see if the results of their study are statistically significant and whether they can draw meaningful conclusions from them.
When calculating a confidence interval, several factors are taken into account, including the sample size, the level of confidence desired, and the standard deviation of the sample. Typically, a 95% confidence interval is used, which means that there is a 95% chance that the true population parameter falls within the calculated range of values.
Confidence intervals can be calculated for any type of statistic, including means, percentages, and proportions. They are a useful tool for researchers, as they provide a clearer understanding of the data and help to support or reject hypotheses.
More Answers:
Hypothesis Testing: The Importance Of P-Value And Significance LevelP-Value In Statistical Hypothesis Testing For Data Analysis
Confidence Levels In Statistics: Importance And Practical Applications.