Difference between revisions of "Confidence Interval"
From Open Risk Manual
Wiki admin (talk | contribs) (Created page with "== Definition == '''Confidence Interval''' (CI) is a type of interval estimate, computed from the statistics of the observed/estimated data, that might contain the true value...") |
(No difference)
|
Latest revision as of 22:27, 4 November 2021
Definition
Confidence Interval (CI) is a type of interval estimate, computed from the statistics of the observed/estimated data, that might contain the true value of an unknown population parameter.
The interval has an associated confidence level that quantifies the level of confidence that the parameter lies in the interval. Most commonly, the 95 percent confidence level is used.
