, the desired probabilistic level at which the obtained interval will contain the population parameter.
Chat with our AI personalities
Confidence IntervalsConfidence interval (CI) is a parameter with a degree of confidence. Thus, 95 % CI means parameter with 95 % of confidence level. The most commonly used is 95 % confidence interval.Confidence intervals for means and proportions are calculated as follows:point estimate ± margin of error.
If you are a good business man then they don't.
An open interval centered about the point estimate, .
In a study using 9 samples, and in which the population variance is unknown, the distribution that should be used to calculate confidence intervals is
The standard deviation associated with a statistic and its sampling distribution.