What do confidence intervals represent?
Please help me understand confidence intervals.
"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 ...
This document discusses the definition and calculation of confidence intervals