Confidence Intervals - What do they represent?
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What do confidence intervals represent?
Please help me understand confidence intervals.
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Solution Summary
This document discusses the definition and calculation of confidence intervals
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"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" (Lind et al, 2004). A confidence interval helps to measure how close a sample is to the population parameter. It gives an estimated range of values which is likely to include an unknown population parameter, the estimated range being calculated from a given set of sample data. Confidence intervals are more ...
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