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) |