Thursday, November 15, 2007

Confidence Interval (CI)

A confidence interval (CI) is an interval estimate of a population parameter. Instead of estimating the parameter by a single value, an interval of likely estimates is given.

More precisely a CI for a population parameter is an interval with an associated probability p that is generated from a random sample of an underlying population such that if the sampling was repeated numerous times and the confidence interval recalculated from each sample according to the same method, a proportion p of the confidence intervals would contain the population parameter in question.

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