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?© BrainMass Inc. brainmass.com June 4, 2020, 3:20 am ad1c9bdddf
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 ...
This solution explains the importance of confidence intervals.