Confident intervals

reshma(45)
Published in
#blog
Words
112
Reading
1 min
Listen
Play
8y

download.jpg

The purpose of the population and computing a statistic, such as the data, to approximate, is the population. The sample statistic estimates the underlying population value is always an issue. The confidence interval addresses this issue because it provides a range of values which is likely to contain the population of interest.

Confident level such as 95%, selected by the uses. It means that if the same population is sampled on numerous occasions and the resulting intervals would bracket the true population in approximately 95% of the cases. The one and two-sided confidence intervals can be one or two-sided. It brackets the population parameter from above and below.

image source: Google image