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Why Care About Confidence Intervals?

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Why do we care about confidence intervals? In most situations, we can't ever know whether our confidence interval is "correct" or "incorrect." Why bother?

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This solution explains the importance of confidence intervals.

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Why do we care about confidence intervals?

Answer: The reason why we care about confidence intervals is that we do NOT know the true value of a given statistic. Usually we can use statistical method to estimate the true value of given statistic from sampling, but we still do not know what ...

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