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Operations Research, Systems Engineering and Industrial Engineering Commons

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2008

Physical Sciences and Mathematics

Interpret

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Full-Text Articles in Operations Research, Systems Engineering and Industrial Engineering

How Do You Interpret A Confidence Interval?, Paul Savory Jan 2008

How Do You Interpret A Confidence Interval?, Paul Savory

Industrial and Management Systems Engineering -- Instructional Materials

A confidence interval (CI) is an interval estimate of a population parameter. Instead of estimating the parameter by a single value, a point estimate, an interval likely to cover the parameter is developed. Many student incorrectly interpret the meaning of a confidence interval. This paper offers a quick overview of how to correctly interpret a confidence interval.