Confidence Interval

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Description

The range into which the true population parameter will fall.

A range of values constructed from sample data so that the population parameter is likely to occur within that range at a specified probability. The specified probability is called the level of confidence.

Concept Prerequisite

Wikipedia Reference

http://en.wikipedia.org/wiki/Confidence interval

Learning Material

Covered in Topic(s)

 
Demand Estimation
Regression and Correlation Analysis
Sampling
Statistical Inference (Estimation and Hypothesis Testing)