Confidence interval
Confidence Interval
A Confidence Interval (pronunciation: /ˈkɒnfɪdəns ˈɪntəvəl/) is a type of Interval estimate used in Statistics to estimate the range of possible values for an unknown Population parameter.
Etymology
The term "Confidence Interval" originates from the field of Statistical inference, where it was first introduced by Jerzy Neyman in 1937. The word "confidence" refers to the probability that the true value of a parameter lies within the specified interval, while "interval" refers to the range of values.
Definition
A Confidence Interval is defined as a range of values, derived from a Statistical sample, that is likely to contain the value of an unknown Population parameter. It is usually expressed in terms of a Confidence level that quantifies the level of confidence that the parameter lies within the interval.
Related Terms
- Confidence level: The probability that the true value of a parameter lies within the Confidence Interval.
- Interval estimate: An estimate of a population parameter that provides a range of possible values instead of a single value.
- Population parameter: A characteristic or measure of a statistical population.
- Statistical sample: A subset of a statistical population that is used to estimate characteristics of the entire population.
- Statistical inference: The process of drawing conclusions about a population based on a sample.
See Also
External links
- Medical encyclopedia article on Confidence interval
- Wikipedia's article - Confidence interval
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